Broadcast encryption is a cryptographic method used to send messages securely to multiple users over a broadcast channel. This method is especially useful in Vehicular Ad Hoc Networks (VANETs), where data needs to be transmitted to various vehicles. However, sending different messages to different groups using traditional broadcast encryption can be costly. To address this issue, we use multi-channel broadcast encryption (MCBE) technique. The MCBE scheme we use is dynamic, which makes it easier to add or remove vehicles and Setup phase allows to generate public key and secret key on requirement. We propose a broadcast encryption scheme for VANETs that supports both the dynamic and the inclusive-exclusive property. Existing constructions do not offer the above features. Furthermore, our proposed scheme exhibits constant ciphertext overhead and provides adaptive security.