Car sales may slip as new insurance rules to be applied from Sept 1, says report
Updated : August 31, 2018 11:26 AM IST
The new insurance regulation mandates buyers of cars and two wheelers to buy the insurance cover for at least three years and five years respectively.
A longer tenure and an upfront payment of insurance premium will save the owners the hassle of renewing their insurance.
However, a measure like this will raise the initial outgo on new vehicles, pushing up the on-road prices, which in turn will disrupt sales.