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Auto stocks skid on registration fees hike

Jul 29, 2019 07:59 IST

Auto stocks are seeing another wave of selling pressure following  the Government's recent proposal to hike registration fees . Buyers will now have to shell out Rs 5,000 for registering new diesel and petrol cars, as compared to  the Rs 600 charge now. With the new notification, renewal charges will rise to Rs 10,000. Two-wheeler buyers, on the other hand, will have to shell out Rs 1,000 for registering their vehicles from Rs 50 currently and Rs 2,000 as renewal charges. Analysts fear the proposal to hike registration and renewal charges will hurt the already ailing auto space.

 

 

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