Shriram Mobility Report Shows Stable Truck Rentals in Feb 2026

The latest Shriram Mobility Bulletin shows muted mobility and logistics activity in February 2026. Truck rentals across major freight corridors remained mostly stable month-on-month. The report points to softer freight movement and highway traffic on several routes during the month.

Key Freight Corridors See Yearly Rental Growth

Rental rates increased year-over-year in several important corridors despite flat sequential trends. The Delhi-Kolkata-Delhi route saw a 6% rise. The Mumbai-Chennai-Mumbai route also recorded a 6% increase. The Delhi-Mumbai-Delhi corridor posted an 8% yearly gain.

The Bengaluru-Mumbai-Bengaluru route recorded a 5% increase. The Guwahati-Mumbai-Guwahati corridor saw a 4% year-over-year rise in truck rental rates.

Multiple CV Segments Show Strong Yearly Momentum

Vehicle sales in most categories moderated month-over-month in February. This is normal for this time of year. But some segments bucked the trend.

Bus sales jumped 34% month-over-month. Maxi taxi sales rose 21% sequentially. This points to steady demand for passenger mobility and institutional transport services.

Year-over-year growth remained strong across several commercial vehicle segments. Goods carrier sales increased 32% from last year. Three-wheeler goods vehicle sales also climbed 32% YoY. Maxi cab sales rose 35% and commercial tractors grew 33% YoY. This indicates continued demand from utility transport and logistics companies.

EV Sales Growth Remains Robust

Electric vehicle sales saw a sequential dip in February. But yearly growth stayed strong. Electric passenger vehicle sales soared 116% from last year. Electric two-wheeler sales increased 66% YoY. Electric three-wheeler sales jumped a massive 246% compared to February 2025.

Trucker Sentiment Remains Cautious

Sudarshan Holla, Joint Managing Director and Chief Operating Officer at Shriram Finance, shared his views on the February trends. He said logistics activity remained subdued during the month. Truck rentals across key trunk routes were largely range-bound.

He noted that trucker sentiment continues to be cautious. The ongoing conflict in West Asia and its impact on economic activity are causing concern among operators.

Holla added that things could improve in March. Fiscal year-end goods movement and a pickup in agricultural freight are expected. Truck rentals are likely to remain firm. But he warned that a potential rise in fuel prices could pose a risk to freight economics.

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Fuel Consumption Drops on Slower Activity

Highway traffic indicators also pointed to slower activity during February. FASTag transaction volume dropped 26.1% from the previous month. FASTag transaction value fell 25.1% sequentially.

Petrol consumption decreased by 4% in February. Diesel consumption also fell 4%. This suggests freight movement and highway traffic on many routes were comparatively softer during the month.

Rabi Harvest Season Set to Drive March Demand

The report points to better days ahead. Logistics demand may get a boost from agricultural activity in the coming months. The Rabi harvest season is approaching. Farm products and agricultural commodities are expected to increase by the end of February and into March.

Demand for tractors and other agricultural equipment may also pick up as the Kharif sowing season draws near.

Also Read : SIAM Releases Zone-Wise LCV Truck Sales Data of Q3 FY26