SIAM warns against proposed hike in vehicle registration fees
Date: 31 Jul 2019
The
Society of Indian Automobile Manufacturers (SIAM) has expressed serious
concerns on the recent draft notification issued by Ministry of Road Transport
& Highways (MoRTH) which proposes increase of Registration Charges of new
vehicles by 10 to 20 times, depending upon the vehicle category, from the
present level.
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New
medium good / passenger vehicles are proposed to attract Rs 20,000 registration
fee instead of current Rs 1,000. A new
truck or a bus registration fee has been proposed at Rs 20,000 in place of Rs
1,500. A new two wheeler registration
fee is proposed to be Rs 1,000 in place of current Rs 50. Similarly, Registration fee for new car is
proposed to be Rs 5,000 up from Rs 600 at present.
Currently,
the Automobile industry is going through an unprecedented downturn as sales of
new vehicles have plummeted significantly over the last several months. Rajan
Wadhera, President, SIAM said, “Such increase in the Registration Charges of
new vehicles would further aggravate the market condition negatively.”
Hence,
SIAM has suggested that instead of hiking registration charges for new
vehicles, Government of India should first look at implementing various
measures as suggested by SIAM to bring back growth in the automotive industry.