Effect of Autmobile sales on traffic volumes on highways in India

Interesting trends are emerging in the traffic volume (good vehicles) performance in the first and second quarters of fiscal year 2023 across the assets where more than 10% of the commodity mix is related to automobile logistics. 

Robust manufacturing and sales have resulted in higher than expected movement of trucks between the different automobile clusters, resulting in higher traffic volumes observed on these road corridors during the often lean monsoon months. Another sign that the traffic volume trends almost act as a leading indicator of industrial performance.