Increasing mobility, safety and passenger comfort are very strong motivations for implementation of Intelligent Transportation Systems (ITS) in practice. The role of wireless communications in ITS has become compelling, both for industry and research community. Wireless communications technologies provide a platform for the exchange of data among the vehicles. A penta-band printed spiral antenna with tapered feed is proposed for vehicular communication system, facilitating vehicle-to-vehicle (V2V) and infrastructure to vehicle (I2V) communication. The antenna covers the navigational frequencies viz., 1.2, 1.5 GHz and Wireless Communication frequencies viz., 2.45, 3.3 GHz and Dedicated Short Range Communication frequency, 5.8 GHz for vehicular communications. Further, radio link characterization of I2V and V2V propagation channel is carried out using Electromagnetic propagation tool, and compared with empirical path loss models of ITU, two-ray reflection and inter-vehicle models.