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Truck rentals skid 25-30% after currency purge

A transporter said trucks on rent for Rs 50,000 are now being hired at Rs 37,500

Megha Manchanda  |  New Delhi 

Truck rentals witnessed a sharp drop of 25-30% in November, especially after the announcement by Prime Minister Narendra Modi to scrap currency notes of Rs 500 and Rs 1000 denomination on November 8. There was an uptick in truck rentals in the month of October. "Trucks that were available for a rent of Rs 50,000 are now being hired at Rs 37,500," a transporter said. There was a steep drop in cargo offerings across the board as retail cargo booking came down leading to a decline in the optimum utilization of the truck's loading capacity by 40% as all the ...

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Truck rentals skid 25-30% after currency purge

A transporter said trucks on rent for Rs 50,000 are now being hired at Rs 37,500

A transporter said trucks on rent for Rs 50,000 are now being hired at Rs 37,500 Truck rentals witnessed a sharp drop of 25-30% in November, especially after the announcement by Prime Minister Narendra Modi to scrap currency notes of Rs 500 and Rs 1000 denomination on November 8. There was an uptick in truck rentals in the month of October. "Trucks that were available for a rent of Rs 50,000 are now being hired at Rs 37,500," a transporter said. There was a steep drop in cargo offerings across the board as retail cargo booking came down leading to a decline in the optimum utilization of the truck's loading capacity by 40% as all the ... image
Business Standard
177 22

Truck rentals skid 25-30% after currency purge

A transporter said trucks on rent for Rs 50,000 are now being hired at Rs 37,500

Truck rentals witnessed a sharp drop of 25-30% in November, especially after the announcement by Prime Minister Narendra Modi to scrap currency notes of Rs 500 and Rs 1000 denomination on November 8. There was an uptick in truck rentals in the month of October. "Trucks that were available for a rent of Rs 50,000 are now being hired at Rs 37,500," a transporter said. There was a steep drop in cargo offerings across the board as retail cargo booking came down leading to a decline in the optimum utilization of the truck's loading capacity by 40% as all the ...

image
Business Standard
177 22

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