Uttar Pradesh Revamps Tax Policy To Boost Strong Hybrid Car Sales

In a major move that may impact the overall strong hybrid car's sales trajectory in Uttar Pradesh, the state government has announced the implementation of the new EV tax policy offering a complete waiver on road tax for strong hybrid cars and SUVs registered within the state. Following this announcement, cars such as the Toyota Hyryder Hybrid, Honda City e:HEV, Innova Hycross MPV and others are set to become more affordable.
Suzuki evX

Uttar Pradesh Revamps EV Tax Policy to Boost Strong Hybrid Sales (Image of Honda City eHEV)

The Uttar Pradesh government has implemented a new policy offering a complete waiver on road tax for strong hybrid cars and SUVs registered within the state. This initiative, effective from July 5th, 2024, significantly reduces the on-road prices of popular hybrid models, potentially leading to a surge in their sales.

Reduced Prices for Popular Hybrids

The policy exclusively targets strong hybrid vehicles, with a focus on promoting environmentally friendly transportation options. Several well-known models benefit from this tax exemption, including:
  • Toyota Hyryder SUV (previously Rs 20.04 lakh - Rs 24.29 lakh, now Rs 18.37 lakh - Rs 22.25 lakh)
  • Toyota Innova Hycross MPV (previously Rs 28.93 lakh - Rs 34.26 lakh, now price reduction of up to Rs 3.11 lakh)
  • Maruti Suzuki Grand Vitara and Invicto (significant price reductions anticipated)
  • Honda City e:HEV (previously priced over Rs 19.04 lakh, significant reduction expected)
These price cuts potentially make strong hybrids a more attractive option for car buyers in Uttar Pradesh.

Impact on Future Sales: While the initial effects are limited to Uttar Pradesh, other states might follow suit and implement similar tax waivers, further boosting strong hybrid sales nationwide. This could potentially shift the market balance, as evidenced by recent sales data (September-November 2023) showing strong hybrids outselling electric vehicles (EVs) by a margin of 24,026 units to 21,445 units. This trend suggests a potential "tipping point" where hybrids become the preferred choice for eco-conscious car buyers.
The policy's impact on luxury hybrid models like the Toyota Vellfire or Lexus offerings remains unclear. Similarly, the long-term influence on EV sales requires further observation.
Overall, the Uttar Pradesh government's new tax policy creates a potentially significant shift in the Indian automobile market. With strong hybrids becoming more affordable, their popularity is likely to increase, potentially impacting overall sales trends for both hybrids and EVs.
End of Article
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