Hybrid Vehicles Get 100% Waiver on Registration Tax in Uttar Pradesh
Potential hybrid car buyers in UP may rejoice as the Government waives off registration tax on such vehicles. Maruti Suzuki, Honda Cars India, and Toyota are among the notable manufacturers that offer HEV technology in India.
By Sanorita
The UP government has removed the registration tax on hybrid vehicles as part of its effort to foster the growth of sustainable vehicles. This momentous step will help prospective hybrid car buyers in the state to save as much as 3.50 lakh, and benefit manufacturers like Maruti Suzuki, Honda Cars India, and Toyota. It is a big encouragement for customers because UP charges 8% road tax on cars under Rs 10 lakh and 10% on cars beyond Rs 10 lakh. Interestingly, UP is one of the most promising markets for passenger vehicles which recorded sales of 2,36,097 units in the first half of this year, which is a 13.46% increase over the same time in 2023.
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According to industry reports, the complete waiver of registration fees on hybrid vehicles will improve the sales of such vehicles and aid the entire auto industry in the state. It will also support the state's bigger endeavors to minimise pollution and encourage environmentally friendly transportation.
Maruti Suzuki's Shares Surge, Becomes Top Nifty Achiever
Industry sources claim that this progressive move by the government of Uttar Pradesh will increase sales of sustainable mobility and motivate more automakers to offer more similar vehicles. Popular carmakers in our market such as Maruti Suzuki, Toyota, and Honda, provide HEV technology in vehicles such as the Grand Vitara, Innova Hycross MPV and Honda City.
After the government of Uttar Pradesh waived registration fees on hybrids, Maruti Suzuki India's shares rose more than 5% on Tuesday, hitting Rs 12,736.55 per share. It became the biggest gainer on the Nifty index as a result of the share price surge. The Grand Vitara SUV and Invicto MPV, which both use powerful hybrid technology, seem to profit from this.
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The Grand Vitara SUV comes with two engine options: a 1.5-litre mild hybrid and a 1.5-litre strong hybrid. The former develops 102bhp, whereas the latter generates 114.4bhp. Besides self-charging technology, the petrol strong-hybrid system offers three driving modes: pure EV, hybrid, and petrol. The mild hybrid unit comes with a choice of a five-speed manual or a six-speed automatic transmission, while the strong hybrid unit can only be purchased with an e-CVT gearbox. On the other hand, the Invicto MPV has a 2.0-litre four-cylinder engine coupled to an electric motor. The former generates 172bhp, while the latter produces 11bhp, to deliver a combined output of 183bhp. The single transmission option is an e-CVT unit.
