VRL Logistics to cut 15% of fleet, to not buy new trucks

India's largest commercial fleet owner, VRL Logistics, said it has identified 15% or around 700 of its 5,000-strong truck fleet for possible scrappage. VRL is operating at 75% capacity and has no plans to buy new trucks, Chief Financial Officer Sunil Nalavadi said. "While business from pharmaceuticals and farming is improving, demand from textiles and automobiles is weak," Nalavadi added.