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What Is the Best Time of the Year to Buy a Car in India?
Buying a car can be a significant milestone in your life and feel incredibly personal. This is a major event in a lot of people’s lives and usually requires financial planning, months of research, and careful consideration of available options. Knowing the right time to buy a car to enjoy a deal on your dream car can make a significant difference in your finances as well as your general sense of satisfaction. You have landed in the right place if you are wondering what the best time is to buy a car in India.
Car Buying Trends: Unveiling the Month-To-Month DynamicsDepending on various factors, the car buyer’s market in India fluctuates throughout the year. Here is a breakdown of the best time to buy a car in India according to the car buying trends in different months:
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March
Since the financial year ends in this month, many people, especially businessmen/businesswomen, consider March to be the best time to purchase a car in India. By buying a new car in March, you can save on taxes by writing the vehicle as a business expense. Additionally, car dealerships are eager to meet their annual targets in March, which translates to better deals for you as a buyer. March may also let you enjoy the depreciation benefits for a recently launched car and enjoy good deals on your purchase.
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April to June
These months do not typically witness a special hike in car sales. Car dealerships may use offers and added benefits with every car purchase during these months to attract buyers. You can leverage this to enjoy a sweet deal if you are looking for the best time to buy a car; just keep an eye out for offers running in the stores in your area or online.
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July to September
Rakshabandhan, Independence Day, and some other festivities coincide with these months. Thus, it prompts showrooms and car dealerships to launch attractive discounts in anticipation of these festivities and attract customers, which makes these months a good time to buy a new car. You can benefit from these offers and get your dream car at an unbelievable price.
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October to December
This is considered the best time to buy a car in India because of many reasons. In addition to being the year-end, Diwali usually falls in October or November. This leads to unbelievable discounts on every merchandise, including cars.
Additionally, dealerships take advantage of the increased buyers’ interest and push aggressive offers to clear their dead stock and outgoing models to boost sales and make room for new models.December tends to be one of the busiest months for car dealerships and manufacturers as they try to clear out the stock, which translates to heavy discounts for you. Since car manufacturers may hike prices at the beginning of the new year, you are advised to avoid waiting for the new year and lock the deal if it makes financial sense.
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January to February
At the beginning of the new year, car dealerships may introduce new models in their stock after the biggest sale of the season in previous months. Thus, January and February may not be the best time to buy a car; however, you may get lucky and strike a bargain to find a suitable car from the lingering year-end stock if the dealership has a sizeable chunk of outdated models in their inventory. Additionally, car dealerships may also introduce an exclusive offer for Republic Day around 26th January.
Some Other Times to Buy a Car in India
If the best times to buy a car mentioned above are not ideal for you, consider any of the following:
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Month-End
You are now aware of the annual sales targets of car dealerships, but they also have a monthly target. If a particular dealership is lagging on its monthly sales goals, it may offer exceptional discounts to customers at the end of the month to boost sales. You may be able to get a better deal by using your negotiation skills at the end of the month.
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Right After a New Car Launch
You may be able to get the introductory offer, which is usually a steal deal on your desired car if it is about to launch. This is because many car manufacturers introduce a special price for the first few hundred or thousand units of a particular model to build hype and attract customers. Usually, the introductory offer is redacted once the sale starts to pick up. However, there is no guarantee that you will get this deal, as there is a waitlist as well.
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Right Before a Facelift or an Update
Since technology keeps evolving, car manufacturers keep introducing updates and/or launching facelifts for their car models during the vehicle’s lifecycle. To clear out their dead stock and make room for new models, car dealerships may offer hefty discounts to clear these stocks, making this one of the best times to purchase a car.
Generally, there is only a minor tweak in the new version of the same model and a few added features; thus, the ‘outdated’ model remains viable if it has a solid infrastructure. You can buy a decent car at discounted prices if you do not have a problem with missing a few extra features.
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After a Special-Edition Launch
Car manufacturers often launch a special edition of a particular model with minute updates and a few additional accessories. These models usually have the same specs and features as the standard versions and are priced the same, so you can use this opportunity and go for an accessorised version of your dream car at the same price.
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Start of the Week
Since people tend to go shopping during their time off, the weekends remain one of the busiest days of the week for a car dealership and not the best days to buy a car. You are recommended to visit the dealership at the beginning of the week when things are going slow to get the best deals possible in a week. Having a relatively empty showroom and focused attention are additional benefits of visiting a car showroom at the beginning of the week, which makes it one of the best times to buy a car.
The market dedicated to used cars operates slightly differently than the market for new cars. The best time to buy a second-hand car is during Diwali. Since many car owners are usually looking to buy a new car during the festive season, Diwali is one of the best times to buy an old car.
Buying a Car for the First Time? Here Are Some Tips to Help in the Process- Select a Car Suitable for Your Needs
If you require a car for your day-to-day commute to and from work, purchasing the most premium model of an XUV may not be the best idea. List out your requirements for a car and narrow your search based on this list. - Do Some Research
Do not buy the marketing campaign of a car; purchase the right product for you. There will likely be different options based on your requirements. But if you do not conduct your research to figure out the best specs and features in your budget, you may end up buying a car that is popular but not as efficient as you would like. - Calculate the Total On-Road Cost of the Desired Car
If your maximum budget is ₹8 lakh, for example, and you are looking at cars with price tags above ₹7 lakh, you may end up overspending. There are certain necessary expenses in addition to the base price of the car that make the on-road cost of a vehicle higher than its price tag. Additionally, you are advised to consider payments like the lifetime road tax, monthly maintenance costs, mandatory insurance charges, and dealer handling charges before buying a car. - Request Test Drives for the Shortlisted Cars from a Dealership
Reading reviews, looking at specs, and comparing prices can give you a good idea of the type of car you want and a few options. However, unless you actually drive the car, you will not have the required knowledge to make an informed decision. - Wait for the Best Time to Buy a Car
In order to get the best deal on your dream car, you are advised to wait for the right time to purchase it. Diwali is considered the prime time to buy a car in India, and you can get the best offers during this time.
Besides being a legal requirement, car insurance can prevent potential financial losses for you. A third-party liability insurance plan is mandated by the government for all motor vehicles, but a comprehensive car insurance plan offers all-round coverage for your valuable vehicle. If you are unsure how to select car insurance policy, you can do some research and find the best insurance product idea for yourself that has a sterling claim settlement ratio, like SBI General. Additionally, you can use a car insurance calculator to figure out your monthly premium rates as per your car model and coverage requirements.
FAQs
Q. When should I buy a car for the cheapest offer?
A. In India, Diwali is usually the best time to buy a car.
Q. What are the best times to buy a car?
A. Generally, October to December are the best months to buy a car. You can also get good deals on a car if you buy it when there are seasonal discounts.
Q. Why are cars cheaper in March?
A. Due to the financial year-end, many dealerships tend to push their old car inventory at discounted prices to meet their annual sales target.
Q. Should I buy a new car or an old car?
A. This depends on your personal requirements and budgetary limits. You can go for a new car if you want to keep it for a longer duration and purchase a second-hand car if you are not a seasoned driver or need the vehicle temporarily.
Q. How can I get good deals on car purchase?
A. It is best to buy a car when the dealerships offer discounts. Check with them for additional available discounts while making the purchase.
Q. Should I purchase a new car right now or wait for some time?
A. If you desperately need a vehicle, consider buying a car as soon as you can. But if you have time, it is best to wait for lucrative discounts.
Q. Can I get a loan to buy a new car?
A. Yes. You can get a loan to finance your new car purchase if you are eligible.
Q. Should I invest in comprehensive car insurance for my new car?
A. Yes. If you want to minimise your potential financial losses and secure your asset, you are advised to go for a comprehensive plan instead of the mandatory third-party insurance plan.
Q. Which car should I buy according to my income?
A. It is recommended that you should not spend more than half your annual income on a new car. Consider whether the value you will be able to get from the vehicle is worth the price in your current financial standing before purchasing a car.
Q. When will car prices lower this year?
A. During Diwali and other annual festivities such as Republic Day, you may be able to buy a car at low prices.
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Motor Insurance
All About 0001 Number Plate Price, How to Get it & More
In the world of automotive luxury, owning a vehicle with a VIP car number is a symbol of prestige and exclusivity. Among these, the “0001” number plate stands out as one of the most coveted and sought-after. This article delves into the allure of the 0001 car number, exploring its significance, the process of acquiring it, and the associated costs. Additionally, we will discuss the e-auction process, eligibility criteria, and factors to consider when purchasing a 0001 number plate. By the end of this article, you will have a comprehensive understanding of everything related to the 0001 number plate price bike and how to obtain it.
Why Is the “0001” Number Plate So Special?The 0001 car number is often regarded as the pinnacle of VIP car numbers. Its uniqueness lies in its simplicity and the prestige it conveys. Owning a 0001 car number is a statement of status and distinction, setting the vehicle apart from others on the road. This number plate is highly sought after by celebrities, business magnates, and car enthusiasts who wish to make a bold statement. The exclusivity of the 0001 number plate is further enhanced by its limited availability, making it a prized possession for those who can afford it.
How to Get a 0001 Number Plate?Acquiring a 0001 number plate involves a specific process that varies slightly depending on the region. Generally, the process begins with registering on the official portal of the Ministry of Road Transport and Highways (MoRTH). Once registered, you can explore the list of available VIP number plates for cars, including the 0001 car number. The next step involves making a payment to reserve the number and participating in an official bid to secure the plate. If successful, you will receive an allotment letter confirming your ownership of the 0001 number plate.
0001 Number Plate PriceThe price of a 0001 vip number plate for car can vary significantly depending on the region and the demand. Typically, the minimum bid for a 0001 number plate starts at around Rs. 5 lakhs. However, in some states, the price can go much higher due to the high demand and limited availability. For those interested in a 0001 number plate price bike, the cost may be slightly lower but still substantial. The premium price reflects the exclusivity and prestige associated with owning such a unique number plate.
E-auction Process for Registering a 0001 Number PlateThe e-auction process for registering a 0001 number plate is designed to ensure transparency and fairness. After registering on the MoRTH portal, you will receive a Unique Acknowledgement Number. This number allows you to participate in the e-auction, which typically opens three days after registration. During the auction, you can place bids on the 0001 number plate. If your bid is successful, you will receive an SMS notification and will need to pay the remaining amount within five days. Once the payment is confirmed, you will receive an allotment letter for the 0001 number plate.
Who Can Apply for a 0001 Number Plate?There are no specific eligibility criteria for applying for a 0001 number plate. Any vehicle owner can apply, provided they are willing to participate in the bidding process and pay the associated costs. This inclusivity means that anyone, from private individuals to corporate entities, can own a 0001 number plate, making it a symbol of universal prestige.
Factors to Consider When Buying 0001 Number PlateWhen considering the purchase of a vip number plate for car like 0001, several factors should be taken into account. Firstly, the cost is a significant consideration, as the price can be quite high. Additionally, the availability of the number plate in your region and the competition during the bidding process are important factors. It is also essential to ensure that you have all the necessary documents and are prepared to pay any additional fees that may arise after winning the auction.
How to Check If a VIP Number Plate Is AvailableChecking the availability of a VIP number plate for a car is a straightforward process. You can visit the official MoRTH portal and explore the list of available VIP number plates for cars. The portal provides real-time updates on the availability of specific numbers, including the 0001 car number. This allows you to make an informed decision and plan your bidding strategy accordingly.
Types of VIP Number PlatesVIP number plates come in various types, each offering a unique level of prestige and exclusivity. The most coveted is the 0001 number plate, followed by other single-digit numbers such as 0003, 0005, and 0009. Semi-fancy numbers, such as 0100, 0666, and 4444, are also popular choices. Each type of VIP number plate has its own price range and level of demand, allowing vehicle owners to choose a plate that best suits their preferences and budget.
Know more about Different Types Of Number Plates In India
ConclusionIn conclusion, owning a 0001 number plate is a mark of distinction and exclusivity. The process of acquiring such a plate involves registration, bidding, and payment, with prices varying based on demand and region. While the cost can be high, the prestige associated with a 0001 car number makes it a worthwhile investment for many. By understanding the e-auction process, eligibility criteria, and factors to consider, you can navigate the process of obtaining a 0001 number plate with confidence.
Also Read: Guide to BH Number Plates in Maharashtra
Frequently Asked Questions- What is the price range for a 0001 number plate?
The price range for a 0001 number plate typically starts at around Rs. 5 lakhs but can go much higher depending on demand and region.
- How do I participate in an e-auction for VIP plates?
To participate in an e-auction for VIP plates, register on the MoRTH portal, obtain a Unique Acknowledgement Number, and place your bids during the auction period.
- What documents are needed to buy a 0001 plate?
You will need identification documents, vehicle registration papers, and proof of payment to buy a 0001 plate.
- Are there any additional fees after winning the auction?
Yes, there may be additional fees such as registration charges and taxes after winning the auction.
- Can I transfer my 0001 number plate to a different vehicle?
Yes, you can transfer your 0001 number plate to a different vehicle, subject to the regulations of the transport authority.
- Can any vehicle owner get a 0001 number plate?
Yes, any vehicle owner can apply for a 0001 number plate, provided they participate in the bidding process and pay the associated costs.
- How much time does it take to register the 0001 number plate?
The registration process for a 0001 number plate typically takes a few days, depending on the completion of the e-auction and payment procedures.
- What is a VIP number plate?
A VIP number plate is a unique and exclusive vehicle registration number that signifies prestige and status.
- Is 0001 a super elite number plate?
Yes, the 0001 number plate is considered a super elite number plate due to its high demand and exclusivity.
Motor Insurance
10 Fastest Cars in India You Should Know About
For the car enthusiast in India, the need for speed is never satisfied. Be it on the highways or through jammed city roads, a high-speed car in India speaks not only of performance but also a symbol of prestige and luxury.
Here is a list of the top 10 fastest cars in India, along with their specifications and prices, and how they combine to give a thrilling experience.
1. Lamborghini Aventador SVJSpecifications:
Top Speed: 350 km/h
Engine:5-litre V12
Horsepower: 770 bhp
Acceleration: 0-100 km/h in 2.8 seconds
Price: ₹6.25 crore (ex-showroom)
Lamborghini Aventador SVJ leads the pack in fast cars across India. The addition of an efficient, powerful V12 engine with an aerodynamic design makes it a breathtaking ride with precise control both on the race track and on the open road.
2. Ferrari 812 SuperfastSpecifications:
Top Speed: 340 km/h
Engine:5-litre V12
Horsepower: 789 bhp
Acceleration: 0-100 km/h in 2.9 seconds
Price: ₹5.20 crore (ex-showroom)
The name says it all, "Superfast." You can see that Ferrari has left no stone unturned with this model. Among the top 10 fastest cars in India, the Ferrari 812 Superfast stands high with its fast speed, advanced handling, and comfort; all in one piece, suitable for both the speed enthusiasts and long-distance cruisers.
3. Porsche 911 Turbo SSpecifications:
Top Speed: 330 km/h
Engine:8-litre twin-turbocharged flat-six
Horsepower: 641 bhp
Acceleration: 0-100 km/h in 2.7 seconds
Price: ₹3.08 crore (ex-showroom)
Let's face it, the Porsche 911 Turbo S is undoubtedly one of the most admired vehicles in the high-performance automotive community due to its unique blend of sophistication and speed. Whether driving on a racecourse or city streets, this model provides the most amazing driving experience.
4. McLaren 720SSpecifications:
Top Speed: 341 km/h
Engine:0-litre twin-turbo V8
Horsepower: 710 bhp
Acceleration: 0-100 km/h in 2.9 seconds
Price: ₹2.51 crore (ex-showroom)
The McLaren 720S is the epitome of performance and aesthetic elegance. Not only among the fastest cars in the world, the car comes with cutting-edge aerodynamics that can help it achieve top speed with ease. A worthy contender in the race for the fastest cars in India.
5. Aston Martin DBS SuperleggeraSpecifications:
Top Speed: 340 km/h
Engine:2-litre twin-turbo V12
Horsepower: 715 bhp
Acceleration: 0-100 km/h in 3.4 seconds
Price: ₹5 crore (ex-showroom)
The Aston Martin DBS Superleggera is the perfect example of a high-speed car in India that blends strength and elegance. It combines luxury with exhilarating driving by fusing great acceleration with traditional styling.
6. Bentley Continental GT SpeedSpecifications:
Top Speed: 335 km/h
Engine:0-litre twin-turbo W12
Horsepower: 650 bhp
Acceleration: 0-100 km/h in 3.5 seconds
Price: ₹3.57 crore (ex-showroom)
The Bentley Continental GT Speed guarantees that its passengers arrive quickly and in style. With its luxurious interiors and unadulterated power, it's the ideal fusion of luxury and performance.
7. Audi R8 V10 PlusSpecifications:
Top Speed: 330 km/h
Engine:2-litre naturally aspirated V10
Horsepower: 610 bhp
Acceleration: 0-100 km/h in 3.2 seconds
Price: ₹2.72 crore (ex-showroom)
The R8 V10 Plus is a possible supercar with exceptional performance for those who enjoy having fun but don't want to sacrifice comfort when driving daily.
8. Maserati GranTurismo MC StradaleSpecifications:
Top Speed: 303 km/h
Engine:7-litre V8
Horsepower: 460 bhp
Acceleration: 0-100 km/h in 4.5 seconds
Price: ₹2.25 crore (ex-showroom)
Although it may not be ranked highest on the list, Maserati GranTurismo MC Stradale is renowned for its Italian craftsmanship. An elegant and fast automobile in India that seamlessly blends style and speed.
9. BMW M8 CompetitionSpecifications:
Top Speed: 305 km/h
Engine:4-litre twin-turbo V8
Horsepower: 617 bhp
Acceleration: 0-100 km/h in 3.2 seconds
Price: ₹2.15 crore (ex-showroom)
The car returns with precision engineering, sporty looks, and performance at par with most of the top-tier cars featured on the list. Predominantly known for its aggressive acceleration and sleek design, the car has held a top-notch place among India's high speed cars.
10. Mercedes-AMG GT RSpecifications:
Top Speed:6 mph
Engine:0-litre twin-turbo V8
Horsepower: 577 bhp
Acceleration: 0-100 km/h in 3.6 seconds
Price: ₹2.48 crore (ex-showroom)
The highly aerodynamic body along with the unparalleled performance capability of the Mercedes-AMG GT R is indeed a dream come true for any speed enthusiast, combined with the AMG know-how of racing. This will be the perfect car for those people who look for a combination of luxury with first-class performance.
SBI Car Insurance to Protect Your High-Speed InvestmentOwning a supercar is an exciting feeling, but there is an increased obligation to protect the investment. There are several risks involved with speeding, thus it becomes crucial to get comprehensive car insurance that covers all liabilities, damages, and thefts. However, getting third-party car insurance is mandatory.
To ensure that your ultimate luxury vehicle is well-protected on Indian roads, you can consider SBI General Insurance. SBI is a trustworthy brand that is focused on customer satisfaction. They offer low-rate premiums, an easy and quick claim process, and security for your car.
ConclusionEach of these vehicles represents a unique combination of speed and driving pleasure. But, more speed means more responsibility. You must get suitable car insurance to safeguard your priceless assets.
SBI General Insurance is one of the best options available for comprehensive car insurance policies. SBI General Insurance offers a range of car insurance plans tailored to meet your needs.
Disclaimer: The above information is indicative in nature. For more details on the risk factor, terms and conditions, please refer to the Sales Brochure and Policy Wordings carefully before concluding a sale.
Motor Insurance
5 Upcoming Hybrid Cars in India in 2024
The upcoming arrival of a new generation of best hybrid vehicles in 2024 is expected to bring a massive revolution in the Indian automobile sector. This fascinating discovery points to a significant change in the path of more sustainable transportation in India. Hybrid cars in India combine the dependability and range of gasoline engines with the power and efficiency of electric motors to give the best of both worlds. This translates into significant driver advantages, including cheaper fuel prices, less pollution, and a more enjoyable driving experience.
If you're considering a new hybrid car in 2024, buckle up! Here's a sneak peek at some of the best hybrid vehicles:
An Overview of Electric Hybrid Cars in India for 2024The Indian car market constantly buzzes with new releases, offering something for every driver. While the Grand Vitara Hybrid, Honda City Hybrid, and Toyota Urban Cruiser Hyryder are leading the hybrid pack, prepare for an exciting shift! Buckle up and explore the best hybrid cars hitting the road in 2024.
- Maruti Swift Hybrid
The iconic Maruti Suzuki Swift is getting a hybrid makeover and is expected to hit showrooms by September 2024. This eco-friendly upgrade promises the same sporty design you love but with a significant boost in fuel efficiency and reduced emissions. Priced around Rs. 10 lakh (subject to change upon launch), the Swift Hybrid packs a punch under the hood. It boasts an 1197 cc engine that generates a healthy 118 Nm torque. This power comes from a clever combination of a 1.2-liter petrol engine churning out 91PS and an electric motor kicking in with an additional 13.5PS and 30 Nm. The Swift Hybrid also caters to your comfort, featuring cruise control for effortless highway cruising and ventilated front seats, a new hybrid car in India for battling the hot weather.
- Toyota Innova Hycross
The highly anticipated Toyota Innova Hycross is poised to revolutionize the MPV segment in India, with its arrival expected in late 2024. This innovative vehicle seamlessly blends the practicality and spaciousness of a traditional MPV with hybrid technology's fuel efficiency and eco-friendliness. Unlike its predecessor, the Innova Crysta, the Innova Hycross embraces a more muscular and SUV-inspired design. This aesthetic shift hints at its potential for tackling even light off-road adventures while maintaining its core functionality as a comfortable people carrier. A powerful 2.0-liter gasoline engine and a state-of-the-art fifth-generation self-charging hybrid electric system are the two powertrain options available for the Innova Hycross. The CVT transmission that comes with both options allows for seamless gear changes. However, the Innova Hycross places equal emphasis on comfort and convenience as it does on efficiency and might become one of the best hybrid cars hitting in 2024.
- Toyota Fortuner Hybrid
The mighty Toyota Fortuner is getting an electric hybrid car upgrade that is expected to launch in late 2024. This implies that you may overcome any obstacle while being environmentally conscious. Although the official pricing is unknown, we know it will cost a little more than a typical Fortuner. The good news is that you'll benefit from an impressive 5% increase in fuel efficiency, which means you'll get more miles out of each tank! Power is another area where the Fortuner Hybrid won't cut corners. It will provide you with all the power you need to tackle any off-road obstacle with its 6-speed gearbox for seamless gear changes and 48V battery to support the engine. A 360-degree camera has also been added, making moving around in confined spaces easier. Prepare to feel the thrill of adventure and a hint of environmental awareness when driving the Toyota Fortuner Hybrid.
- Nissan X-Trail
The Nissan X-Trail is making a grand comeback to the Indian market in 2024; this time, it's bringing a hybrid twist! Expected to launch sometime this year and priced around Rs. 40 lakh, the X-Trail Hybrid offers a compelling option for families seeking a spacious, comfortable, eco-friendly SUV. Under the hood lies a combination of a 1.5-liter naturally aspirated petrol engine and an electric motor, working together to deliver an impressive 204 bhp of power and 330 Nm of torque. This results in a responsive and seamless driving experience ideal for cruising on highways or negotiating city streets. For those long drives, the X-Trail offers traffic sign recognition, reducing the stress of deciphering road signs. Plus, heated front seats and dual-zone climate control ensure a pleasant journey for everyone in the car.
- Renault Duster Hybrid The popular Renault Duster is getting an electric hybrid car makeover in 2024, making it a more attractive option for budget-minded drivers seeking an eco-friendly ride. Although the precise release date is still pending, we anticipate seeing it in stores later this year. Renault has two hybrid alternatives: a mild-hybrid model with a smaller 1.2-liter petrol engine linked with a 48V electric motor and a full hybrid with a 1.6-liter petrol engine combined with an electric motor. While the mild hybrid strikes a balance between performance and cost, the full hybrid offers a more noticeable increase in fuel efficiency. Although specifics remain unknown, we may anticipate a sleek and contemporary design matching the car's capabilities.
With these exciting new hybrid cars on the horizon, 2024 is shaping up to be a significant year for the Indian car market. Electric hybrid cars offer a practical solution for those seeking to reduce their environmental impact without compromising on performance or practicality. As technology advances and infrastructure improves, we can expect the best hybrid vehicles to join the Indian market in the coming years. Along with these advancements, it's essential to consider the importance of car insurance, including third-party car insurance, to protect your investment. So, buckle up, India – the future of mobility is arriving, and it's looking remarkably green.
Disclaimer: The above information is indicative in nature. For more details on the risk factor, terms and conditions, please refer to the Sales Brochure and Policy Wordings carefully before concluding a sale.Motor Insurance
5 things you should know about the Motor Vehicle Amendment Bill 2019
The Lok Sabha recently passed the Motor Vehicle (Amendment) Bill. The Act supervises the granting of licenses to vehicles, vehicle norms and fines for any infringement of provisions under the Act and has garnered mixed reactions from the people.
Here are 5 things that you, as a citizen, should know.
1. Mandatory Insurance Coverage: The amended bill calls for the government to create a Motor Vehicle Accident Fund to provide obligatory protection cover to any individual who uses Indian roads. The fund can be used for:
a. Compensation to the representatives of a deceased hit and run victim
b. Compensation to anyone who has been grievously injured in a hit and run incident
c. Compensation to anyone as prescribed by the Central government
d. Treatment of anyone injured in road mishaps according to the golden hour program
2. Fines and offences: The new bill has increased fines for several motor vehicle offences under the Act. The maximum fine if a car/two-wheeler manufacturer fails to comply with the standard vehicle norms has been increased to Rs. 100 crore or imprisonment up to one year or both. The maximum fine for driving under the influence has jumped from Rs. 2,000 to Rs. 10,000, and the fine if a contractor fails to maintain the road construction standards could be as high as Rs. 1,00,000. There is also a possibility of the fines increasing every year by up to 10% under the Act.
3. Compensation for victims: Under the new rules, the government will develop a scheme that will help road accident victims get cashless treatment during the golden hour. Golden hour is defined in the bill as the duration of up to one hour following a grave and severe injury, during which the likelihood of keeping someone from dying through immediate medical care is the highest. The government may also come up with a scheme under which interim relief will be provided to applicants who are seeking recompense under any third-party insurance. The new Bill has increased the minimum recompense for hit-and-run accident cases as follows:
a) In case of severe or grave injury, it has increased from Rs 12,500 to Rs 50,000.
b) In case of death, from Rs 25,000 to Rs. 2,00,000
4. Good Citizens: The bill has defined a good Samaritan/Citizen as any person who provides crucial emergency assistance to a victim at the place of the mishap. The assistance must be voluntary and should have been carried out in good faith without any reward or expectation of the same. This Samaritan cannot be held liable for any civil or criminal liability for injury or death of the victim which might have been caused due to their negligence while assisting the victim.
5. Mass recall of vehicles: According to the new Bill, The government is allowed to recall motor vehicles if a manufacturing defect that causes harm to the environment, the driver or other road users is detected. The manufacturer of the recalled vehicle will be required to recompense the buyers the full cost of the vehicle or substitute/replace the defective model with another vehicle having the same or better specifications.
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