Latest news with #MinistryofRoadTransport&Highways
Time of India
a day ago
- Automotive
- Time of India
Luxury EV sales zoom 66% in India; 2,027 units sold in just 5 months
Sales of electric vehicles in the luxury segment grew by 66% to 2,027 units in the first five months of the ongoing calendar year driven by healthy customer adoption at the upper end of the local market. As many as 1,223 luxury EVs were sold in the same period last year, shows vehicle registration data from VAHAN portal of the Ministry of Road Transport & Highways (MoRTH). Santosh Iyer, Managing Director at Mercedes Benz India , told ET, 'We are clearly seeing a strong traction for electric vehicles in the luxury segment, much more than that being seen in the mass market. For our own portfolio sales growth have been higher at 73% between Jan-May 2025, driven by demand for our top-end-vehicles.' For Mercedes-Benz India's while electric car sales came mostly from customers in metro markets of Delhi NCR, Mumbai, Hyderabad, and Bengaluru, Iyer pointed out 'penetration of electric vehicles in some emerging markets like Kerala, Gujarat is encouraging'. 'In the industry too, penetration of electric in luxury vehicle sales is on a rise and stood at 11% in the first five months of the year, compared to 7% in the same period last year', Iyer informed. Live Events Compatriot BMW - which has half a dozen electric vehicles for offer in the Indian market - too is seeing strong demand, and even from Tier-II cities like Jaipur. Vikram Pawah, President, BMW Group India, said in a recent interaction, 'We had targeted about 15% of our sales to come in from EVs by 2025. We are already at about 17%. We expect penetration to only go up from here, with 30% of our sales coming in from electrics by 2030.' Overall, sales of luxury vehicles is expected to grow in high-single digits this year. Iyer said, 'The industry has grown by 7-8% in the first five months of the year. While uncertainty continues due to a super-charged geo-political environment, the recent rate cuts by the RBI should help foster demand. We are expecting good sales in the festive season. The growth this year should be in line with expectations.' Luxury car sales grew by about 8% to 54,000 units in CY2024. Luxury cars currently have a little over 1% market share in India—the lowest among major economies. The country however offers ample growth potential given it is home to one of the highest number of billionaires worldwide, industry experts said. Between 2023 and 2028, India will witness the highest increase for any country in the number of ultra-high-net-worth individuals (UHNWIs), with a net worth of $30 million or more, as per Knight Frank's flagship study, 'The Wealth Report 2024'. The number of ultra-rich Indians is expected to surge by 50% to 19,908 in 2028 from 13,263 in 2023. India will be followed by China (47%), Türkiye (42.9%), and Malaysia (35%), according to the report. Economic Times WhatsApp channel )
Time of India
a day ago
- Business
- Time of India
NHAI caps projects for consultancy engineers at 10 for better quality and oversight
To enhance the quality and supervision of national highway projects, the National Highway Authority of India ( NHAI ) has mandated 10 projects per engineer for consultancy firms. The new directive aims to ensure rigorous monitoring of construction and maintenance activities across the country's expanding highway network. The NHAI observed that the practice of assigning multiple projects to one engineer was diluting the quality of supervision, potentially compromising the structural integrity and safety of the highways. "Restricting the maximum number of projects per 'engineer' will not only enhance operational efficiency and ensure high-quality implementation as well as maintenance of highways but will also go a long way to ensure a safe, smooth, and seamless travel experience on the National Highways across the country," the authority stated in a release. This restriction comes in response to concerns that a single designated 'Engineer' from a consultancy firm, tasked with overseeing numerous projects, is often unable to fulfill their contractual obligations effectively. The primary role of this 'engineer' is to control and supervise the adherence to specifications and contract provisions, a responsibility critical to the qualitative and quantitative success of a project. To allow for a smooth transition, consultancy firms have been given a 60-day period to make the necessary adjustments to comply with the new regulation, a statement by the Ministry of Road Transport & Highways said. The directive includes detailed clauses that will be incorporated into the guidelines for consultancy firms involved in projects under the Hybrid Annuity Mode (HAM) and Engineering, Procurement, and Construction (EPC) mode. These clauses will cover the appointment of Independent Engineers and Authority Engineers, along with a clear delegation of their responsibilities.
Time of India
a day ago
- Automotive
- Time of India
Steelbird Helmets' Mission Save Lives 2.0 aims to cut road deaths by 50% by 2031
A new national road safety initiative , Mission Save Lives 2.0 India, was launched by Steelbird Helmets Managing Director Rajeev Kapur at the National Summit on Vulnerable Road Users (VRUs) and Road Safety. The summit, focused on aligning Indian road safety measures with the Marrakech Declaration, included participation from government representatives, researchers, and safety advocates. The initiative aims to prevent 38,000 deaths annually through increased helmet usage, reforms in safety standards, and targeted enforcement. India recorded approximately 1.72 lakh road fatalities in 2023, with two-wheeler riders and pedestrians comprising 65 per cent of the total. Focus on certified helmets and counterfeit crackdown Kapur said, 'Every day, India loses lives that could be saved by simply wearing a real BIS-certified helmet. Mission Save Lives 2.0 India is a national commitment to make these helmets accessible, affordable, and mandatory for every rider and pillion passenger, including children.' The plan will be implemented in phases—starting with Tier 1 cities in 2028, followed by Tier 2 cities in 2029, and reaching rural regions by January 2031. A key component is the elimination of counterfeit helmets, with the initiative citing that 95 per cent of BIS licence holders currently sell substandard products falsely bearing the ISI mark. To counter this, the mission calls for real-time verification, periodic audits, legal action against fake manufacturers, and in-house BIS-approved testing labs at every certified helmet factory. Manufacturing capacity, child safety and policy changes To meet projected demand for over 130 million certified helmets annually, the plan includes a fourfold increase in production capacity, requiring an investment of ₹6,000 crore and employment for 80,000 workers. Children's safety has been highlighted through proposed lightweight, age-specific helmets, with weight limits from 0.72 kg to 1.17 kg based on age. The mission also seeks to make helmets more affordable by reducing GST from 18 per cent to 12 per cent and classifying them as essential safety equipment. It further mandates that two-wheeler manufacturers provide one BIS-certified helmet immediately, and two helmets per vehicle from January 2027. The initiative also proposes digital monitoring, annual audits by the National Crime Records Bureau and the Ministry of Road Transport & Highways, and regular helmet usage surveys to inform policy changes.
Business Standard
21-05-2025
- Automotive
- Business Standard
India now has second largest road network
Ministry of Road Transport & Highways has stated in a latest update that India now has the second largest road network and the National Highway (NH) network has grown by 60%, rising from 91,287 km in 2014 to 1,46,195 km. Over 4300 km of national highways have been developed in Uttar Pradesh in the last decade making it the second largest National Highway state in the country.
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
