Registration fee waiver in UP to spur hybrid car sales? What Nomura says

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)

Nomura on tax cut on Hybrid in UP:Analysts at Nomura, a Japan-based brokerage firm, said that the recent tax cuts on hybrid vehicles in Uttar Pradesh (UP) may increase accessibility to hybrid models but are unlikely to have a larger impact.

“Even if there is a sharp jump in the sales of strong hybrids in UP, given the low base till Oct-25, we do not see any significant impact on our industry estimates for FY25- 26F,” Nomura said in a note.