Auto Stocks Slide After Maharashtra’s Motor Tax Hike

Shares of EV makers, CGD player MGL, and light goods vehicle manufacturers fell on March 11 after Maharashtra's Budget 2025 proposed a motor tax hike. Mahindra & Mahindra, Ashok Leyland, and Mahanagar Gas saw declines, while Maruti Suzuki and Tata Motors faced minor losses. The new taxes take effect from April 1, 2025.