Latest news with #CARS24
India Gazette
19-05-2025
- India Gazette
Traffic fines in India top Rs 12,000 crore, exceeding GDP of several small nations: Report
New Delhi [India], May 19 (ANI): A recent survey report by CARS24 has revealed that traffic violation fines imposed in India have surpassed the GDP of many small nations. According to its 2024 report, approximately 8 crore traffic challans were issued, with total fines of around Rs 12,000 crore. This means almost every second vehicle on the road has been fined at least once. However, a significant portion (Rs 9,000 crore) remains unpaid. Out of the 140 crore people living in India, only 11 crore own a vehicle. This shows that a relatively small section of the population is responsible for a large number of violations, raising concerns about traffic discipline and accountability. Many drivers follow traffic rules only when law enforcement is present, indicating that fear rather than habit drives asked who adjusts their driving based on law enforcement, only 43.9 per cent of the respondents claimed they follow traffic rules regardless of whether police are present. On the other hand, 31.2 per cent said they occasionally check for police before adjusting their driving, while 17.6 per cent admitted to actively monitoring their surroundings to avoid being fined. This highlighted that many drivers consider traffic rules to be optional unless law enforcement is visibly present. The survey also looked into how people react upon spotting a traffic police officer. As many as 51.3 per cent said they immediately check their speed and ensure they follow the rules. Another 34.6 per cent said they slow down instinctively, even if they are not breaking any rules. Meanwhile, 12.9 per cent said they either change their driving behaviour or take a detour to avoid getting caught. When it comes to the impact of surveillance on road behaviour, 47 per cent of the respondents claimed they drive the same way regardless of CCTV cameras. Around 36.8 per cent admitted to slowing down only when they spot a camera, and 15.3 per cent said they adjust their driving only for speed cameras, ignoring other types. Surveillance technology alone is not enough to bring about behavioural change unless penalties are strict enough to instil fear. The report illuminates a crucial road safety issue in India, pointing to the need for a stronger enforcement system and greater public awareness to encourage responsible driving habits. The report highlights the need for a stronger enforcement system and greater public awareness to encourage responsible driving habits. According to the Road and Transport Ministry, 1,68,491 people died in 2022 due to traffic violations, leading to accidental deaths in India. The findings emphasise the importance of stricter enforcement and public awareness to promote road safety and responsible driving habits in India. (ANI)
Time of India
19-05-2025
- Automotive
- Time of India
Unpaid traffic fines cross ₹9,000 crore as violations continue unchecked
A new traffic violation report has revealed that Indian motorists were issued challans worth ₹12,000 crore in 2024, with nearly ₹9,000 crore still unpaid. The findings point to widespread non-compliance with traffic rules across the country, raising concerns about enforcement and public accountability. The CARS24 report states that over 8 crore challans were issued last year, amounting to nearly one for every two registered vehicles. Overspeeding made up nearly half of all violations, followed by non-use of helmets and seatbelts, illegal parking, and jumping traffic signals. Despite these offences carrying financial and legal consequences, only around 25 per cent of fines have been paid. Daily violations and regional disparities In Gurugram, traffic authorities issued more than 4,500 challans each day in 2024, collecting ₹10 lakh daily in penalties. In Noida, fines for helmet-related violations totalled ₹3 lakh in a single month. Some of the most severe cases include a two-wheeler rider in Bengaluru who accumulated ₹2.91 lakh in fines from 475 separate violations, and a truck owner in Haryana fined ₹2,00,500 for overloading by 18 tonnes. The data also shows that traffic violations are widespread across vehicle types, with 55 per cent of challans issued to four-wheelers and 45 per cent to two-wheelers. Consequences and cultural trends Unpaid fines may lead to suspension of driving licences, cancellation of registration certificates, increased insurance premiums, and court summons. The report suggests that penalties alone may be insufficient deterrents without stronger enforcement systems and behavioural change. 'Every traffic violation is a silent vote against civic order. If we want safer cities, we need a cultural shift from compliance out of fear to responsibility out of pride,' said Gajendra Jangid, Co-Founder of CARS24. The report calls for enhanced use of technology, such as automated challan systems and AI surveillance, to improve accountability. However, it concludes that a shift in mindset towards responsible driving is essential for long-term road safety.
India Today
19-05-2025
- Automotive
- India Today
Traffic fines amounting to Rs 12,000 crore issued in India in 2024: CARS24
Traffic violations resulted in fines amounting to Rs 12,000 crore in India in 2024, according to a new report by used car platform CARS24. Of the total sum, nearly Rs 9,000 crore remain 8 crore challans were issued in 2024, nearly one for every second vehicle on the road. From overloaded trucks to riders without helmets, the report highlights extreme cases that underline a growing disregard for truck owner in Haryana was fined Rs 2,00,500 for overloading by 18 tonnes. A two-wheeler rider in Bengaluru accumulated Rs 2.91 lakh in fines across 475 separate violations," the report said."In Gurugram, authorities collected Rs 10 lakh per day through traffic fines, issuing over 4,500 challans daily. Noida issued challans of Rs 3 lakh in a single month for helmet violations alone," it to the report, over-speeding accounted for nearly 50% all challans issued. Close behind were violations for not wearing helmets and seatbelts, obstructive parking, and signal jumping."A whopping 75% of fines remain unpaid, revealing a gaping hole in enforcement and public accountability," the report said, adding that non-payment can lead to suspension of driving licenses and registration certificates, hike in insurance premiums, and even court summons for repeat traffic rules is a major reason for road accidents and fatalities in to the Ministry of Road Transport & Highways, road accidents in India increased 4% to over 4,80,000 in 2023 from more than 4,61,000 in 2022. The road fatalities jumped 2% to more than 1,72,000 in 2023 from over 1,68,000 in to Auto Today Magazine
&w=3840&q=100)
Business Standard
26-04-2025
- Automotive
- Business Standard
Cars24 lays off 200 employees amid strategic reset, continues expansion
Auto-tech platform Cars24 has laid off around 200 employees from various departments, including product and technology, as part of a strategic pullback from certain projects, The Economic Times reported, citing an internal message from co founder and CEO Vikram Chopra. The layoffs come as the SoftBank-backed company continues to expand into new business areas. Last week, CARS24 announced its acquisition of automotive forum website Team-BHP, signalling a broader diversification of its portfolio. In his internal note, Chopra said, 'Over the past few weeks, we have had to make the difficult decision to part ways with around 200 of our teammates across various functions.' He explained that several projects failed to meet expectations, some roles were introduced prematurely, and a few hypotheses did not hold up when tested. Chopra also mentioned that the company could not provide the level of growth or learning that some employees deserved, the news report said. He further assured that severance support was being provided to those impacted by the layoffs. The CEO reassured the team that no additional layoffs were planned, calling the decision a 'specific, intentional reset' and clarifying that it was not part of a broader, ongoing reduction plan. Expansion into new car sales and additional services In March, Cars24 ventured into new car sales with the launch of a platform that aggregates dealerships and vehicle manufacturers. The company also launched a super app in August last year to offer additional services like vehicle repairs, financing, on-demand chauffeur booking, insurance payments, and FASTag distribution. This expansion aims to monetise the large consumer base built through its used-car sales platform. CARS24 acquires Team-BHP Despite the acquisition, Team-BHP will continue to function independently under its founding team, maintaining its strict no-sponsored-content policy, rigorous moderation, and community-first philosophy. CARS24 aims to support the platform by enhancing its product offerings, technology, and artificial intelligence tools to further enrich the user experience.
Mint
25-04-2025
- Automotive
- Mint
EVs hit with falling resale value as consumer demand cools
Electric cars are losing the battle to their conventional fuel counterparts in India's used-car market, as their resale value is simply not matching up to expectations despite having fewer moving parts, with battery concerns and influx of newer electric models playing their part. According to used car aggregator platform Spinny, if an electric model made in 2023 is resold today, its price would have fallen somewhere about 23%. Comparatively, ICE (internal combustion engine) model would see 20% depreciation. Used car marketplace CARS24 says that while three-to-five year-old popular ICE car models retain more than 50% of their original value, the same is not the case with EVs. In fact, data sourced from Spinny suggests that the gap between the two widens when it comes to older models. For instance, a 2020 EV model would lose about 46% in value compared to 40% for an ICE model of the same vehicle manufactured in the same year. Two factors are contributing to this. Consumers' discomfiture with battery longevity and replacement cost, and more attractive electric cars being launched at similar price points to older cars. Also read | India open to revising EV manufacturing policy for foreign automakers post US tariff clarity 'Automakers expect that ideally the resale value of electric vehicles should be higher than ICE vehicles as there are fewer parts, but that's not how the market is evolving," Hanish Yadav, senior vice president & business head at Spinny, said. 'The question over battery health still remains, which is creating uncertainty for resale value of electric vehicles." A 2024 International Forum for Environment, Sustainability and Technology study pointed out that EVs could have 45-84% fewer parts than an average ICE vehicle. 'ICE cars currently lead in value retention due to their well-established ecosystem, ease of maintenance, and wider buyer trust ," Gajendra Jangid, Co-Founder of CARS24, said. 'Popular models like Maruti Swift, Santro, Wagon R, and Tiago NRG regularly fetch above 50% of their original price even after 3-5 years of usage." At car dealerships, where old cars are frequently handed to dealers for a discount against the purchase of a new vehicle, EVs appear to be struggling even more. A Delhi-based car dealer said they gave ₹ 9 lakh in exchange value for a six-year-old diesel vehicle of about ₹ 18 lakh. 'But a two-year-old EV car of original price of around ₹ 15 lakh given to us by a customer got about only ₹ 5 lakh back," this dealer said. 'If a customer plans to sell a vehicle within a few years, we don't suggest buying electric vehicles for now." Read this | Wrong turn? After decades making ICE parts, they decided to make EVs. It hasn't gone well The lack of strong resale value–a key factor in purchase decisions for Indian car buyers–has implications for consumer demand as well. A recent study by Deloitte–2025 Global Automotive Consumer–said at least one in five car buyers flags uncertain resale value as one of the reasons for holding back on EV purchase. Deloitte's study also said that only about 8% of consumers said they would prefer a battery-powered electric vehicle, a decline from 10% recorded in Deloitte's 2024 study. In 2024, the country witnessed a 20% jump in electric car sales to reach nearly 100,000 units compared to the previous year, according to data from car registration portal Vahan. However, the penetration of EVs in the car market remains low at around 2.5%. ICE cars' market leader Maruti Suzuki India Limited has its own insights. Partho Banerjee, the company's senior executive officer-marketing and sales noted recently that consumers are not seeing EVs as their primary car. 'EVs sold today are not primary cars, but secondary," he said during a media briefing on 1 April. 'Till the time we don't solve customer concerns on range, charging infrastructure, and post-sales, buyers will not have confidence." Read this | Domestic EV battery ambitions set for a steeper battle against global players in Trump's world The continuous fall in value of electric vehicles is affecting car manufacturers as well. 'OEMs also bear the burden of diminished returns, particularly when resale concerns deter buyers or require the rollout of buyback and resale assurance programs," Saket Mehra, partner-risk and leader for automotive & EV at Grant Thornton India. To counter resale concerns, EV manufacturers are coming up with their own offers. Tata Motors, the country's largest electric vehicle seller, has looked at exchange offers on cars along with facilitating trade-in of vehicles (price of old vehicle credited in the price of new vehicle to give the customer a discount). JSW MG Motor India runs a dedicated programme called 'MG Reassure' to offer its existing customers a better resale value. For instance, the Gurugram-based company has a buyback offer for customers of MG Windsor wherein they are assured they will get 60% of the car's original price on return after three years. Experts believe that electric technology needs to first stabilise before the used EV market can pick up pace. And read | Centre aims green logistics at ports, eyes setting up EV charging infra 'Currently, as innovation in the EV space picks up pace, consumers are getting much better products at similar price points compared to earlier models," Yadav said. 'As a result, people are hesitant to buy older EVs. However, this trend could stabilize once the technology matures and customers gain more confidence in electric vehicles."
