Heatwave, high interest rates impacted logistics sector in June: Report

According to a report by Shriram Finance Ltd, the heatwave, delayed monsoons, elections, coupled with high interest rates led to stress in rural hinterlands impacting logistics sector in June 2024. Providing details on the current status of the automobile and logistics sector, Shriram Finance in its July 2024 bulletin said that passenger vehicle sales experienced a notable decline of 6.77% YoY. Motor car sales declined by 9%. Truck rentals degree by 2.6% on the Mumbai-Kolkata-Mumbai route but saw a 4.1% increase on the Kolkata-Guwahati-Kolkata route.