From 1 April 2025, all drivers in Mumbai will have to pay tolls using FASTag at every toll plaza. This is in line with Maharashtra State Road Development Corporation’s (MSRDC) announcement some time ago regarding a FASTag-only system to make toll payments, which would facilitate quicker and easier passage of vehicles through toll gates. But that is not the key news. The key news is that the toll on the Mumbai-Pune Expressway will rise by three percent from 1 April 2025. This hike is expected to dig a hole of up to INR 10 in every passenger car owner every time he gets on the respective expressway. 
Fully operationalised in April 2002, the Mumbai-Pune Expressway – first of its kind in India – was built on a BOT basis. It cost more than INR 16.3 billion to complete, according to a report found on the Magicbricks.com website dated 5 February 2025. An analysis in 1994 estimated the cost to be INR 11.46 billion. 
In its affidavit in response to a PIL filed in the Bombay High Court in 2019 citing a CAG report, MSRDC – the Maharashtra state’s special vehicle that built the respective expressway – mentioned that the CAG failed to consider aspects such as traffic flow in initial years, fluctuation in interest and value of money at the time when the first contract was awarded in 2004. 
After taking into consideration the internal rate of return at 16 percent, the total amount recoverable in 2021 was INR 223.7 billion (22,370 crore), MSRDC is known to have stated in its affidavit filed by Kamlakar Phand, Chief General Manager, MSRDC, justifying the extension of contract to collect toll.  
Known as India’s highest toll collecting expressway and also the costliest, the toll collection across the nine gates of the expressway in FY2022-23 was an estimated INR 480.28 billion (48,028.22 crore). In FY2023-24, it was an estimated INR 648.09 billion (64,809.86 crore), a 35 percent increase from the previous year. The average daily collection of around INR 1.5 billion in FY2023-24 in the respective fiscal marked an all-time high. 
But then it is not just the Mumbai-Pune Expressway that will see a hike in toll tax, driving in turn the cost of consumables, essential goods etc., up, the National Highways Authority of India (NHAI) will also increase the toll tax on national highways and expressways that it governs, effective 1 April 2025, mention sources. 
This hike will also touch two-wheelers as stretches such as the Delhi-Lucknow expressway are known to charge toll from that class of vehicles as well. The toll tax increase, sources say, will be in line with the tradition to yearly revise the charges to account for changes in the wholesale price index (CPI)-based inflation. 
Not stopping there and not taking into account the poor quality as well as sheer unsafe stretches of key highways such as the one connecting Pune with Belgaum, which is said to have been under construction for many-many years now, or the one that connects Mumbai with Goa, motorists of all class of vehicles, two-wheelers included, should brace themselves to see their pockets burn a bigger hole effective 1 March 2025 as road fines increase. 
Not supposed to complain about bad road surface, unsafe road design, crater-like patches or the suddenly appearing speed humps and simply pay the roll tax, motorists found to be under the influence of alcohol will have to pay a fine of INR 10,000 and/or face a six months term in prison for the first offence. Repeat offenders will have to pay INR 15,000 and may face up to 2 years in prison.
Those riding without helmets will have to pay INR 1,000 (earlier it was INR 100) and face license suspension for three months. Failing to wear a seat belt, the fine will be INR 1,000. 
Found talking on the phone while driving, the fine will be INR 5,000. Found driving without a valid driving license, the fine will be INR 5,000. Riding triple seat on a two-wheeler, the fine will now be INR 1,000. Sans a valid insurance (insurance attracts 18 percent GST whereas buying a vehicle amounts to between 28 to 50 percent of the price being taxes!), the fine will now be INR 2,000. Besides three months of imprisonment and community service, a repeat offence will see the fine double to INR 4,000. 
The absence of pollution certificate will attract a fine of INR 10,000 along with a prison sentence of six months and community service. Dangerous driving and over speeding with attract a fine of INR 5,000 each here after. Blocking of emergency vehicles will lead to a fine of INR 10,000. Overloading of commercial vehicles will lead to a fine of INR 20,000. 
Jumping a red signal will attract a fine of INR 5,000. Earlier it was INR 500. Offence committed by juveniles behind the wheel or handlebar will lead to a fine of INR 25,000 rather than INR 2,500. A prison sentence of three years and cancelation of vehicle registration for a year besides ineligibility to get a driving license till the age of 25 will be there too. 

Image for representative purpose only.

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Gurgaon-headquartered BMW India Financial Services, the subsidiary of the BMW Group, which focusses on retail finance, commercial finance and insurance solutions, has appointed Andreas Modlmayer as the new Managing Director and Chief Executive Officer.

He succeeds Jaejoon Lee, who successfully led the company as a leading end-to-end automotive financial solution for the BMW brand in the country.

Modlmayer has been associated with the BMW Group since 2000 and was the CEO of BMW Austria Bank in Greece. He has extensive leadership experience for BMW Group Financial Services and has worked across geographies such as New Zealand, China and Hong Kong. He started his career with BMW Bank Munich in Sales and Marketing function.

Lisa Ng, Regional Chief Executive Officer of BMW Group Financial Services for Asia Pacific, said, “Andreas Modlmayer brings with him valuable expertise and leadership acumen, with successful development of BMW Financial Services in diverse markets for over two decades. India is an important market for us, and we are confident that he will further add to the company’s growth as he takes charge of BMW India Financial Services.”

“We thank Jaejoon Lee for his immense contribution to BMW India Financial Services in the recent years. He successfully steered the company with new initiatives in product offerings and customer centricity and strengthened the foundation for future growth. We wish him all the best as he returns to BMW Korea once again,” added Ng.

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Two-wheeler and commercial vehicles major Eicher Motors has reported its record financial results for FY2025.

For the quarter ending 31 March 2025, Eicher Motors reported its highest-ever quarterly revenue from operations at INR 52.41 billion, marking a 23.1 percent increase over the same period last year. Quarterly EBITDA rose 11.4 percent to INR 12.58 billion, while net profit surged 27.3 percent to INR 13.62 billion.

Royal Enfield registered its highest-ever quarterly sales during Q4, with 280,801 motorcycles sold, up 23.2 percent YoY.

For fiscal 2025, Eicher Motors reported revenue of INR 188 billion, a 14.1 percent increase over FY2024, EBITDA rose 8.9 percent to INR 47.12 billion, while PAT stood at INR 47.34 billion, up 18.3 percent YoY.

The company also reported that Royal Enfield crossed the 1 million mark in annual sales for the first time in its history, clocking 1,002,893 units, up 10 percent YoY. Domestic sales grew 8.1 percent to 902,757 units, while exports surged 29.7 percent to 100,136 units.

The iconic brand launched six new motorcycles during the year, including the Guerrilla 450, Bear 650, Classic 650, Goan Classic 350, the 2024 Classic 350 (featuring a Factory Custom Programme) and the Scram 440.

Royal Enfield also made its debut in electric mobility with Flying Flea, a city+ EV brand inspired by the 1940s model of the same name. The new EV line-up is set to launch its first product by 2026, blending classic aesthetics with cutting-edge technology.

To strengthen its international footprint, Royal Enfield inaugurated its first fully owned CKD (completely knocked down) assembly plant in Thailand and announced a second CKD unit in Brazil aimed at serving the LATAM region. It also expanded operations in Bangladesh with a new manufacturing facility and flagship showroom.

Eicher Motors’ commercial vehicle arm, VECV, also posted a strong performance in a flat market. It reported annual revenue of INR 235.48 billion, up 7.7 percent from the previous year. PAT rose 57 percent to INR 12.86 billion, while EBITDA stood at INR 20.23 billion. The company sold 90,000 vehicles in FY2025, a 5.4 percent YoY growth.

VECV introduced the Eicher Pro X range – electric small commercial trucks assembled on an all-woman assembly line – as part of its push for sustainability and inclusivity. Volvo Trucks, part of the joint venture, launched India’s first FM Road Train for efficient long-haul logistics and also began deliveries of LNG-powered trucks.

Siddhartha Lal, Chairman, Eicher Motors, said, “We have had a remarkable year at EML and have reported exceptional performance across both Royal Enfield and VE Commercial Vehicles. In the motorcycle business, the middleweight segment saw a lot of action from our peers. Remaining unfazed and maintaining focus on our strategic goals and community, Royal Enfield stood head and shoulders above everyone else to sell one million motorcycles annually, for the first time in its history. With several global award winning and category defining motorcycles now sitting within the Royal Enfield portfolio, we are super excited and confident about the possibilities that lie ahead of us. At VECV also we saw record-breaking volumes and a strong performance despite the prevailing challenging market conditions. What excites me the most is that we have done it all quietly, consistently and with a sense of purpose. We balanced creativity with rigour, legacy and progress in a way that’s unique to our company and I genuinely believe we are just getting started.”

B Govindarajan, MD, Eicher Motors and CEO, Royal Enfield, said, “FY25 was an incredible year for Eicher Motors and Royal Enfield. We delivered our best-ever financial performance and despite a slow start to the year, we built strong momentum in the second half, launching six new motorcycles, achieving a record festive season and seeing healthy demand across all our products. We also strengthened our international footprint, with consolidated exports surging 29.7 percent to 100,136 units and opened new CKD operations. We also marked our entry into electric mobility with Flying Flea, our city+ EV brand that brings together timeless design and modern tech. It’s been a year of growth, resilience and execution and we are excited for what lies ahead.”

Vinod Aggarwal, MD & CEO, VE Commercial Vehicles, said, “VECV continued to outperform a nearly flat industry in FY2025, with vehicle sales growing 6 percent to 90,161 units. Our company closed the year as a market leader in the Indian 5-18.5T Light and Medium Duty truck segment and recorded its highest ever deliveries across key business verticals.”

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Tata Motors Group Chief Financial Officer PB Balaji outlined a bullish roadmap for the company’s growth trajectory, citing strong performance recovery, a vibrant product pipeline and a sharp focus on electric mobility and international market expansion.

Balaji struck an optimistic note on Tata Motors' future, calling out sustained momentum across all three verticals – Jaguar Land Rover (JLR), Tata Commercial Vehicles and Tata Passenger Vehicles (PV).

"We are entering FY26 with a strong balance sheet and a clear growth agenda across all businesses,” Balaji said, underscoring that the Group is now structurally and strategically aligned for the next phase of expansion.

He emphasised that Tata Motors’ growth will be ‘product-led,’ particularly in the passenger vehicle segment. New launches – especially in the SUV and EV space – have been pivotal in reinforcing Tata’s market positioning.

In the commercial vehicles segment, Tata is banking on market recovery and improved fleet utilisation. “The freight cycle is showing signs of improvement, and we expect to benefit as replacement demand kicks in,” he noted.

On electric vehicles, Balaji reaffirmed Tata’s dominant stance in the Indian EV market and outlined plans to extend its lead. “The EV strategy is working. We’ve proven the thesis. The next steps will be about scale and ecosystem development,” he said. He highlighted Tata’s ambition to transition from simply selling EVs to enabling an entire EV ecosystem – touching on charging infrastructure, localisation of components and battery recycling as critical next steps.

JLR's transformation was another highlight of Balaji’s outlook. The British marque has returned to healthy margins and is now positioned to scale profitably, thanks to a focused approach on premiumisation, disciplined capital allocation and electric architecture development. “JLR has turned a corner—it’s about consolidating gains and investing in future-ready platforms,” he stated.

In addition, Tata Motors is eyeing growth outside India, particularly in the ASEAN and African regions. “We’ll continue to invest in markets where we see sustainable long-term potential,” he said.

Balaji also stressed Tata Motors' disciplined capital deployment approach, indicating that future investments would be ‘self-funded through strong cash flows.’ Debt reduction remains a high priority, even as CAPEX is strategically allocated.

Calling the next two years ‘defining’ for Tata Motors, Balaji summed up the strategy, “The next 24 months are defining for us as a group across the three businesses. We have tailwinds, we have the execution muscle and we are focused. Now is the time to accelerate.”

Financial Performance

Tata Motors reported record consolidated revenues of INR 4,396 billion for FY2025, marking a 1.3 percent YoY growth. However, net profit declined by 11.4 percent to INR 278 billion, impacted by margin pressures across key business segments.

Significantly, the Tata Motors Group turned net auto cash positive during the fiscal, closing FY2025 with a net cash balance of INRR 10 billion – a key milestone in the company's financial turnaround strategy.

Jaguar Land Rover (JLR) recorded Q4 FY25 revenues of GBP 7.7 billion, a decline of 1.7 percent YoY.

In the domestic commercial vehicles (CV) segment, wholesale volumes stood at 99,600 units in Q4 FY25, down 4.8 percent YoY. Exports, however, surged 29.4 percent YoY to 5,900 units. Total CV revenue declined marginally by 0.5 percent YoY to INR 215 billion, mainly due to lower volumes. Nevertheless, the business delivered improved profitability, with EBITDA and EBIT margins rising to 12.2 percent (up 20 bps YoY) and 9.7 percent, respectively – driven by better realisations.

In the passenger vehicles (PV) segment, Q4 volumes were at 147,000 units, down 5.5 percent YoY. Revenue fell 13.1 percent YoY to INR 125 billion. The EBIT margin came in at 1.6 percent, impacted by both lower volumes and realisations. However, this was partially offset by cost optimisation measures and government incentives.

The company also highlighted profitability in its core and electric PV portfolios. The internal combustion engine (ICE) PV business delivered an EBITDA margin of 8.2 percent in Q4, while the electric vehicle (EV) business remained EBITDA positive at 6.5 percent.

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Akio Toyoda, Chairman of Toyota Motor Corporation (TMC), has been honoured with the 2025 Industry Leadership Award by the Society of Automotive Engineers (SAE) Foundation. The recognition was presented at the 27th Annual SAE Foundation Celebration held in Pontiac, Michigan, an event that pays tribute to industry leaders whose careers have inspired future generations of innovators.

Toyoda was recognised for his visionary leadership and transformative impact on the global mobility landscape. Serving as President and CEO of TMC from 2009 to 2023, he played a pivotal role in steering the company through a dynamic period of technological evolution. As Chairman, he continues to champion innovation, sustainability, and the development of a future-ready workforce.

In honour of Toyoda’s recognition, Toyota Motor North America announced a USD 1 million donation to support SAE’s A World in Motion (AWIM) program. The initiative introduces students to STEM education through hands-on experiences that develop critical thinking and problem-solving skills essential for the mobility industry.

This contribution complements the efforts of the Toyota USA Foundation’s Driving Possibilities initiative, which aims to enhance STEM learning and career readiness in Pre-K through 12th-grade schools across the U.S. Together, the AWIM and Driving Possibilities programs will serve nearly 24,000 students and provide STEM education training to approximately 700 teachers in key communities.

“Toyoda’s passion for driving excellence extends beyond the automotive industry. His commitment to education and Toyota’s investment in STEM programs like AWIM will leave a lasting impact on students and future engineers,” said Jamie Ferguson, Executive Director of the SAE Foundation & STEM Learning.

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