India’s passenger-vehicle market has witnessed astonishing growth in the past decade. Barring the current hiccups, on account of ongoing urbanisation, increasing expenditure from the middle-class and young generation, and the country’s economic growth and supportive regulations and policies, India is expected to emerge as the world’s third-largest passenger vehicle market in future. However, the growth story will bring severe challenges for the parking space segment, especially in metro cities for which parking space has been a perennial issue.

As per a survey, a person spends an average of 17 hours a year for searching parking slots in New York, and the situation is grimmer in India where on average a person spends around 80 hours per year on finding parking. However, the situation varies in different cities.

Amit Lakhotia, Founder and CEO, Parviom Technologies, which owns Park+, faced car parking-related issues like any other Indians residing in metro cities. “Every day, we face challenges in finding an available parking slot, be it in office parking, malls, hotels or any other busy places. This leads to frustration and loss of time and fuel as well,” says Lakhotia. Due to difficulty in finding spaces for parking, people park their vehicles in the non-parking area or on the roads that occupies half of the road and which again causes traffic congestion, accidents, environmental hazards and even criminal activities.

“Parking related day-to-day issues were on my mind for some time while I was working with Paytm,” recalls Lakhotia. Having faced such parking-related issues, Amit Lakhotia found a business opportunity and launched the App, Park+, in 2019, which provides a suite of solutions around parking and more. With the help of Park+ app, users can discover parking, book their slot as well as other services such as car wash and pay digitally. They also provide RFID based security solutions to apartments and corporate setups.

Early this year, Park+ has raised $11 million in a financing round co-led by venture capital funds Sequoia India and Matrix Partners India. Prominent angel investors, including Deep Kalra, Rajesh Magow, Ashish Hemrajani, Kunal Shah, Kunal Bahl and Rohit Bansal also participated in the round. Park+ is also the first company to collaborate with Aarogya Setu app for crowd management in malls.

The Park+ business model starts with identifying hot spots and taking suppliers- parking operators -onboard in these areas. For a selected site, the company takes the responsibility to build and maintain the infrastructure needed for the business. Infrastructure includes different servers and hardware. Light hardware is used to monitor entry and exit, while complicated hardware is used for barriers, parking sensors and RFID based security solutions. “Deployment of infrastructure is based on the needs, but charges vary accordingly,” adds Lakhotia.

Park+ earns a commission from the parking operators of the parking space and a service charge from that availing of the service.

Lakhotia is confident that his app-based business will boom on the surging numbers of smartphone users and operators. Explaining further, he says, “Till 2015-16, the internet had not reached to the last mile space in any sector. Online search, ordering, payments, tracking and delivery were not as smooth as of today. However, Ola, Uber, Swiggy and other e-commerce portals brought a revolution in the online payment system and have made it very convenient for users and last-mile operators. Online businesses are also taking good efforts on their last mile employees for reading maps and handling deliveries. Till last a few years, parking operators did not have smartphones with internet connectivity, but now they have. Users and operators were ready, so we felt this is the right time to launch the business.”

India had the world’s second-largest internet population of around 483 million users in 2018, and, of these, 390 million users accessed the internet via their mobile phones. As per a report, India will have over 760 million smartphone users in 2021.

Mobile-phone based parking apps have already been running in the developed markets such as the USA and Europe, but challenges for Park+ will be unique and tough considering the rapidly concentrating population, unplanned structures, and scarcity and skyrocketing prices of lands in cities. Expansion of cities in the western world have been well planned, and vehicle parking has been an integral part of the design of the new cities and the development of old cities. With the growing urbanisation, India is likely to have over 500 million people living in cities by 2030.

Considering the challenges for finding and booking parking space in India, the sweet spot for the Park+ is to help users to find and book parking spaces more conveniently and parking operators to utilise parking spaces more optimally.

“Since there is a minimal scope to build new infrastructure to make parking sites, we focus on to make these parking spaces available more efficiently. For instance, on weekdays, parking space is fully occupied in corporate parks, but malls, hotels and shopping complexes are less crowded, so are their parking sites. This scenario is vice versa on weekends. If a corporate park is near to a mall, the former can use the parking site of the latter on weekdays; the same can be done vice versa on weekends. That is how parking space can be used effectively, and operators’ revenue can go up,” explains Lakhotia.

Though as now of Park+ is offering its services in major cities, it sees opportunities in Tier -2 as well. Residents in metro cities are still reluctant to buy a car owing parking and traffic issues and opt for the shared mobility but growing middle-class incomes pushing car sales in Tier-2 cities. “What parking-related issues we are facing in the Tier-1 cities, eventually we will face the same in Tier-2 in future. So, we also see big business opportunities in Tier-2 cities in the country,” predicts Lakhotia.

Park+ will also explore possibilities to tie up with city corporations which operate parking sites in the cities. “We are looking for such tie-ups. It is just a matter of time when we can have to tie up with municipal corporations.”

Apart from the core service, Park+ is also offering services for insurance, pollution control certificate, RTO service, and information on traffic rules and fuel prices. The company now plans to widen its service offering with vehicle services, maintenance, washing and others. “Some of these services will be provided by third parties, while some services we will provide to the customer directly,” adds Lakhotia.

The company will also explore the option to have tie-ups with OEs to provide the Park+ inbuilt services in their vehicles. “We will try to make available our services to OEs as the business scales up.”

Lakhotia has spent more than ten years building significant size internet businesses. He is ex-Paytm, Tokopedia and Makemytrip and played a critical role in scaling them to multi-billion dollar companies. His experience with the internet business is helping him to build his own business. “Paytm is a digital platform which is being used by masses in India. It is being used by auto drivers, tea sellers, literally by everyone. The distribution of Paytm is available everywhere for both users and merchants in both urban and rural areas. When we started the business, we never thought we would go that big. It does not matter how great your product is; it should work on all devices and networks. The product should win the trust of users since you are handling their money. Transparency is must in internet businesses,” says Lakhotia.

Today, the company has around two lakh subscribers, and Lakhotia expects the subscriber number will reach two million by 2021. The company adds 40,000 cars to the network every month, and 300,000 cars have their RFID tags. So far, the company has set up 800 sites in India. “Currently, we have around 18,000 real-time slots available, and overall, we have 60,000 slots.”

Talking on challenges, Lakhotia says Park+ is a pioneer in the business, and the challenges are new and unpredictable. “Since it is a real-time business, the challenge is how to deliver the services in the expected time. Also, this is a low-ticket business; we will have to make sure it will work smoothly.” (MT)

India’s automobile industry has witnessed a dip is sales number in the passenger and commercial vehicle segments in FY24 and H1FY25. However, experts from CareEdge Ratings opine that this dip is no alarming for the overall industry as it is a cyclical downturn and the industry will bounce back. 
Commenting on the same during a virtual press conference, Senior Director Ranjan Sharma said, “The automobile sector has exhibited a mixed trend in H1FY25. While the two-wheeler industry has zoomed ahead at a healthy year-over-year growth rate of 16 percent, primarily driven by strong rural demand on the back of higher rural income levels, the passenger vehicle (PV) industry after witnessing healthy growth in past 2-3 years, has entered the slow lane during H1FY25 with wholesale volume growth slowing down to 2 percent on year-over-year basis due to subdued demand for entry-level cars and elevated inventory levels at dealer’s end. While two-wheeler volume growth is expected to remain healthy during FY25, overall PV volume growth is expected to continue to remain muted in FY25.”
“The commercial vehicle (CV) sector experienced significant growth post-pandemic, with approximately 30 percent growth in FY22 and FY23. FY22's growth was driven by a low base effect due to the pandemic's impact in FY21, while FY23 saw robust growth on a higher base. However, the momentum appears to have plateaued. Last year, the sector recorded a slight decline of around 1 percent and the current half-year shows a further decline of approximately 3 percent, primarily driven by a drop in the light commercial vehicle (LCV) segment. Meanwhile, the medium and heavy commercial vehicle (MHCV) segment has remained relatively stable,” he added. 
He also noted that infrastructure spending and increased construction activity in the second half of the fiscal year, supported by heightened government investment, could lead to some improvement. Nevertheless, for FY25 as a whole, CV volumes are expected to remain in negative territory, with an estimated decline upto 3 percent.
Commenting on how the dip in sales will fare for the overall automobile industry, he stated, “The two-wheeler segment is performing well overall. However, major CV and PV players are doing well individually, though volume growth is expected to remain neutral for a year or two, as this is cyclical. The sectors witnessed such fluctuations every 2-3 years but there is no alarming concern for the overall sector. Moreover, there are no significant concerns from a credit quality standpoint. These companies are large, have diversified portfolios and maintain a strong financial risk profile.”
He added, “The PV sector witnessed significant growth in the past couple of years, driven by its cyclical nature. The growth rate for FY25 is projected to be around 3 percent with a similar trajectory expected for FY26. The LCV segment, being more price-sensitive, has been particularly affected, showing sharper declines. For FY25, the sector is expected to close with a decline of about -1.5 percent to -2 percent. Looking ahead to FY26, even under the best-case scenario, growth is likely to remain subdued, with only minimal improvements expected, driven by the same underlying factors.”
Alluding to the performance of the electric vehicle (EV) segment, he said, “EV volumes have shown healthy growth, particularly in two-wheelers and e-buses. However, this growth has come from a very low base. Even in FY24, EV penetration remains modest with two-wheelers at approximately 5.4 percent and other segments, including passenger and commercial vehicles, at around 2 percent each. The slower pace of growth and penetration can be attributed to challenges such as underdeveloped EV charging infrastructure and the high cost of EVs compared to internal combustion engine (ICE) vehicles, which continue to act as significant bottlenecks.”
 

Image for representative purpose only.

Dana India has announced the completion of its Corporate Social Responsibility (CSR) initiatives in Chakan, Pune. The initiatives aimed at improving road safety and infrastructure in accident-prone areas and reiterates Dana India’s vital role in promoting sustainable development and community safety, both in Maharashtra and across India. 

In an effort to lower the risk of accidents for over 3,600 residents and tourists, Dana India built 30 tall solar lighting at Chakan's Alandi Phata Chowk. This project is in line with the Sustainable Development Goals (SDGs) of the UN, including Goal 13: Climate Action and Goal 7: Affordable and Clean Energy. Additionally, Dana India put up metal barriers and traffic safety signs in the industrial region of Chakan. Approximately 250,000 commuters are anticipated to benefit each day from these actions, which also support Goals 11: Sustainable Cities and Communities and 17: Partnerships for the Goals. 

More than 300,000 individuals now have better road visibility and safety thanks to the installation of road divider railings at strategic locations like Endurance Chowk. This programme promotes Goal 3: Well-being and Good Health. Goal 7: Accessible and Sustainable Energy Goal 17: Partnerships for the Goals and Goal 15: Life on Land. In order to significantly improve evening safety for an estimated 300,000 people, Dana India additionally installed street lighting in strategic areas across Endurance Chowk and the Chakan Industrial Area. These initiatives support both Goal 15: Life on Land and Goal 11: Sustainable Cities and Communities. 

Gajanan Gandhe, Country Head and Vice President, Dana India, said, “These initiatives represent a significant step towards improving road safety and promoting sustainability in the Chakan community. At Dana India, we are committed to driving meaningful change and enhancing the quality of life for the people of Pune while supporting the global sustainability agenda.”

aerpace Industries Ltd has announced that Sanjay Takale, Director of aerpace Racers and a distinguished racer, will compete in the four-wheel category of the Dakar Rally 2025, which is recognised globally as the pinnacle of motorsport.

Takale's long motorsport career spans three decades and includes over 75 national and international triumphs. Among his numerous achievements is the FIA Asia-Pacific Rally Championship Production Cup from 2013. In 2022, he became the first Indian invited to the FIA Motorsport Games, finishing 8th in Rally4 among participants from 72 nationalities. Takale's involvement in the Dakar Rally is a landmark success for Indian motorsport, cementing his position as a global hero. This development also demonstrates aerpace's dedication to nurturing cutting-edge talent and innovation.

Apart from his personal accomplishments, Takale is committed to developing new talent through aerpace Racers, an initiative of aerpace Industries. As Director, he aims to develop an innovative and sustainable motorsport culture.

Takale said, “Dakar is more than a race – it’s a dream that pushes the limits of human and machine capabilities. Representing India on this unparalleled platform is both a privilege and a responsibility. With aerpace’s unwavering support, I hope to inspire a new wave of motorsport enthusiasts to chase their dreams and redefine boundaries.”

The Bus and Car Operators Confederation of India (BOCI), the apex body representing passenger transport operators across the country, has re-elected Prasanna Patwardhan as its National President and announced its new National Committee list for a three-year tenure. The other key members of the National Committee include A Afzal (National Vice President), Dharmaraj D R (General Secretary), Harsh Kotak (Treasurer) and Babu Panikar (Additional Secretary).

Since its founding in 2016, BOCI has played a significant role in promoting the settlement of important problems that transport companies confront, such as infrastructural difficulties, taxation and regulatory barriers. The company is also leading new projects to improve passenger last-mile connection and encourage the use of environmentally friendly transport options like electric vehicles (EVs). With a vision that is firmly based on sustainability, innovation and teamwork, BOCI hopes to solidify its position as the force behind revolutionary developments in the passenger transport industry. 

Outlining the association’s vision for the betterment of the passenger transport industry, Patwardhan, who retains his position as National President, said, “I am deeply honoured to continue serving as the National President of BOCI, and I thank the members for their continued trust and support. The passenger transport industry is at a transformative juncture, requiring concerted efforts to adapt to evolving mobility needs. Public transport, as a pillar of sustainable and inclusive mobility, is central to achieving the vision of Viksit Bharat. BOCI is committed to strengthening the ecosystem by advancing solutions such as Mobility as a Service (MaaS) and enhanced last-mile connectivity, ensuring that public transport becomes more accessible, seamless and efficient for all. This tenure will focus on fostering innovative practices, driving meaningful collaborations, and establishing international partnerships to ensure our industry remains aligned with global advancements and emerging trends. As we gear up for 2025, our collective efforts will be directed toward addressing industry challenges, enhancing operational efficiencies, and creating a sustainable roadmap that empowers both operators and passengers. Together, we will continue to elevate the standards of the sector, ensuring it significantly contributes to India’s growth story.”

The complete list of members of the new National Committee is as follows:

1. Prasanna Patwardhan, National President
2. A Afzal, National Vice President
3. Dharmaraj D R, General Secretary
4. Harsh Kotak, Treasurer
5. Babu Panikar, Additional Secretary
6. Gurmeet Singh, Joint Secretary
7. D Maran, Joint Treasurer
8. Siddiq Gandhi, Joint Treasurer
9. Harish Sabharwal, Senior Vice President – North
10.  Anurag Agarwal, Senior Vice President – East
11.  Kiran Desai, Senior Vice President – West
12.  Manoj Padikkal, Senior Vice President – South
13.  Anjit Bora, Sr. Vice President – North-East
14.  Rajesh Parashar, Vice President – Stage Carriage
15. Kanwarjit Singh Sawhney, Vice President – Tourist Buses
16. Anil Dixit, Vice President – PPP Model
17. Malik M Patel, Vice President – Tourist Taxi
18. Navsharan Garcha, Vice President – School Bus
19. M Ramanathan, Vice President – Maxi Cab
20. Rijas A J, Vice President – Intercity
21. Sartaj Lamba, Executive Member
22. Mahendra Jalwania, Executive Member
23. N P Gautam Kiran, Executive Member
24. Hari Prakash Dubey, Executive Member
25. Ameet Sahoo, Executive Member