On July 5 last year, the Uttar Pradesh government issued an order removing registration tax on strong hybrid cars, sparking a debate within the automobile industry
Sales growth, however, slowed sharply from the 9 per cent rise recorded in 2023, as the global auto sector faced a challenging year with inflation weighing on consumer appetite
A new report says EVs and CNG vehicles will outpace hybrids by far
Also plans to expand EV portfolio and production capacity
Indicating that Kia's current focus remains on the electric car market, he mentioned that the company's first mass-market electric car-scheduled to be launched next year-will be a mid-sized SUV
Since 2021, hybrid vehicle sales have been growing steadily in several markets, including China, Japan, Korea, the UK, France, and the US
The share of compressed natural gas (CNG)-run cars is also expected to increase from 14 per cent in 2023-24 to 18 per cent in 2027-28
The data revealed that the share of strong hybrid vehicles in total car sales in UP grew from 1.2 per cent in June to 3.3 per cent by August
The waivers have split India's auto industry, with Tata Motors, Mahindra and Mahindra and Hyundai arguing their sales of pure electric cars will suffer
Major car makers such as Maruti Suzuki India and Toyota Kirloskar Motor have been asking for lowering of taxes on hybrid cars
The state govt has announced full waiver of registration fee for strong hybrids to boost use of eco-friendly cars
The divide within the auto industry recently came to the fore after a July 5 order by the Uttar Pradesh government to waive a registration tax of 8-10 per cent for strong hybrid vehicles
The insurance regulator had allowed general insurers to introduce pay as you drive and pay how you drive for motor insurance cover in 2022
EVs, hybrids could have 33 per cent share each in Indian market by 2035: Suzuki
Strong hybrid car sales won't affect growth of electric cars, they argue
The Uttar Pradesh government on July 5 decided to waive the registration tax on hybrid cars, extending a concession already available to fully electric vehicles
Toyota, with its dominant market share in strong hybrids in India, analysts said, is anticipated to be a primary beneficiary of this policy change, followed by Maruti Suzuki (MSIL)
R C Bhargava talks on the battle between electric and other alternative technologies to reduce carbon emissions
Auto stocks in focus: Maruti down 6 per cent in last 2 months; trading strategies for Maruti, Tata Motors and M&M as UP government waives-off registration fee on hybrid cars.
Around 100 strong hybrid cars were sold per month in Uttar Pradesh in FY24