Great news for hybrid car owners in Uttar Pradesh! Starting from July 5, the state government has waived the registration fees for hybrid cars, allowing customers to save up to Rs 3.5 lakh. This initiative is part of the government’s efforts to reduce petrol consumption and protect the environment.
UP Government Announce Full Waiver of Registration
In a move to promote eco-friendly vehicles, the UP government has introduced this waiver, benefiting buyers of Maruti, Honda, and Toyota hybrid cars. This new rule, effective from July 5, aims to encourage more residents to switch to hybrid vehicles, leading to significant financial savings and environmental benefits.
Details of the Fee Waiver
Currently, an 8% road tax is levied on vehicles costing less than Rs 10 lakh, and a 10% road tax applies to those costing more than Rs 10 lakh. The waiver on registration fees will make a substantial difference for hybrid car buyers, making these eco-friendly vehicles more accessible and affordable.
Impact on Retail Sales in UP
Uttar Pradesh is one of the largest markets for passenger vehicle sales in India. In the first half of 2024, the state’s passenger vehicle retail sales grew by 13.5%, reaching 2.36 lakh units. This new policy is expected to further boost the demand for hybrid vehicles, particularly Maruti Suzuki’s models. Last year, Maruti Suzuki sold 1,000 units of its Grand Vitara and Invicto models in the state.
Encouraging Hybrid Adoption, UP Government Announce Full Waiver of Registration
The UP government’s decision is set to drive the adoption of hybrid vehicles, providing both financial relief to consumers and contributing to environmental sustainability. By eliminating registration fees, the state is making a clear statement about its commitment to greener transportation solutions.
This initiative will not only help reduce petrol consumption but also support the state’s environmental goals, making hybrid vehicles an attractive option for UP residents.
Account opning link:
- Groww Account- https://app.groww.in/v3cO/kyrp1zph
- Kotak neo Account https://kotaksecurities.ref-r.com/c/i/32531/109103906
My name is Nitesh kumar and i am a Engineer but i have passionate in blogging, so these website updates day to day publish in stocks news and ipo’s and business related news update.
“Stock24News.com is your premier source for real-time financial updates and market insights. Stay informed with our expert analysis and comprehensive coverage of global stock trends.”
Thanks for your visiting in stock24news.com