India’s mobility ecosystem witnessed a strong recovery in October, driven by Deepavali demand, the GST Bachat Utsav and resilient freight activity, the report said. Shriram Mobility Bulletin.
Sales across all vehicle categories are expected to be strong due to festive consumption, rural freight activities and accelerated adoption of electric vehicles. According to Shriram Mobility Bulletin, auto sales witnessed sharp month-on-month growth across categories, supported by pent-up demand and improved liquidity in the retail and transportation ecosystem.
Freight and rental remain stable
Truck rentals remained stable on major trunk routes in October, with the Delhi-Mumbai-Delhi corridor recording the sharpest month-on-month increase of 1.9 percent. On a year-on-year basis, truck rentals in the key corridors were up 2 to 10 percent, led by Bengaluru-Mumbai-Bengaluru, at 10 percent.
Entry restrictions for non-BS VI vehicles in NCR continued to limit fleet availability, while heavy rains in northern India briefly disrupted truck movements even as the arrival of Kharif crops helped boost freight demand, the bulletin said.
Auto retail posted a broad recovery in October, with almost all categories recording double-digit growth month-on-month. Freight carriers rose 58 percent month-on-month and 23 percent year-on-year, while sales of three-wheelers (goods) and e-rickshaws rose 59 percent and 16 percent month-on-month, respectively, supported by last-mile delivery and demand for urban logistics.
Two-wheeler sales rose 144 percent month-on-month and 52 percent year-on-year as festive shopping peaked. Passenger car sales also rose 83 percent month-on-month and 11 percent year-on-year, reflecting strong consumer confidence. Even traditionally cyclical segments such as construction machinery and agricultural tractors posted gains, highlighting the spillover effects from infrastructure and rural activities, the bulletin said.
EVs are setting new records
Electric vehicle (EV) sales were among the strongest ever, marking October as a record month across all categories. E-2 wheelers grew 40 percent month-over-month and 39 percent year-over-year, while E-3 wheelers grew 16 percent month-over-month and 324 percent year-over-year, reflecting continued growth in the adoption of electric vehicles for passengers and freight.
YS Chakravarti, CEO and Managing Director, Shriram Finance Ltd., said, “Deepavali has delivered exceptional results with truck rental prices remaining stable and vehicle sales across categories reaching record highs. The focus now is on maintaining this momentum, although a moderation in vehicle demand is expected in the coming weeks.”
Published on November 5, 2025
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