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A hybrid registration waiver from Uttar Pradesh: how much can one save?

NiftyTrader • July 9, 2024

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Popular vehicles including the Grand Vitara and Invicto from Maruti Suzuki, the Hyryder and Innova Hycross from Toyota, and the City from Honda are all covered by the waiver.

The Uttar Pradesh government has exempted registration tax fully on strong hybrid cars that would likely help car makers such as the Maruti Suzuki India (MSIL), Honda Cars India (HCIL) and Toyota Kirloskar Motor (TKM). After this, the car buyer is able to save up to Rs 3. 50 lakh because popular cars like Maruti Suzuki’s Grand Vitara and Invicto, Toyota’s Hyryder and Innova Hycross, and Honda City fall under it.

A circular implementing the policy was released by the UP government, and it states that “100% waiver on registration fee of strong hybrid electric vehicles and plug-in hybrid electric vehicles” will take effect immediately.

UP is one of the largest markets for passenger vehicles in India and it sold 2,36,097 units in the first half (H1) of this year. It has increased by 13.46 per cent from 2,08,092 units sold in January-June 2023.

Ankit Raj, Chairperson of the Federation of Automobile Dealers Associations (FADA), “This policy will boost strong hybrid vehicle sales in UP, even though the market is currently small. Most buyers of such vehicles are not first-time owners. This move by Chief Minister Yogi Adityanath is set to aid the auto sector.”

Maruti produces the Grand Vitara SUV and the Invicto MPV using Hybrid Electric Vehicle technology. Toyota offers this technology in the Innova Hycross MPV and the Urban Cruiser Hyryder SUV. Honda’s City car now features HEV technology.

You may save over Rs 3 lakh while purchasing a Maruti Suzuki Invicto or a Toyota Innova Hycross. You may save more than Rs 2 lakh on the Maruti Suzuki Grand Vitara, Toyota Urban Cruiser Hyryder, and Honda City e:HEV.

Cost savings Government policy Hybrid cars Registration fee waiver Uttar Pradesh
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