As many as 5000 truck owners in Coimbatore have abandoned their business due to the steep increase in fuel prices, especially diesel.
Coimbatore: Over 5000 truck owners in Coimbatore have reportedly given up the truck business in the past two years, owing to the steep increase in fuel prices, especially diesel.
The continuous increase in fuel prices as well as in spare parts has reportedly forced over 5,000 truck owners to sell their trucks in the last two years, in Coimbatore alone.
Former President of Coimbatore Lorry Owners Association (CLOA), K R Arumugam stated that the hike in petrol and diesel prices is being adjusted toward the price of crude oil in the international market. "While this is inevitable, it has taken a huge toll on the middle class and truck owners. Two years ago, there were 25,000 trucks in Coimbatore. At present, there are only 15,000 trucks.
More than 5,000 truck owners, most of whom owned one or two trucks, have left the business after selling their trucks due to the crisis caused by the diesel price hike and the rise in prices of spare parts, including tires," he added.
He also mentioned that truck drivers and assistants are no more available. "With the crisis turning worse with every passing day, many truck owners who are still in the business are at a loss on how to continue making a living with no solution in sight, as well as being clueless on how to work anywhere else," lamented K R Arumugam.