The Indian auto industry is on the verge of taking a major leap with safety and emission regulations coming into effect within a short span of time. In a bid to ensure smoother and timely transition, carmakers have pulled up their socks and are introducing future proof models. That said, the new regulations will also entail carmakers to increase prices in a bid to retain margins and recover the cost of investment and it is all starting now. Hyundai Motor India has announced a price increase of up to ₹ 9200 which has been done to meet the upcoming safety regulations. However, the recently launched Kona Electric and Venue subcompact SUV haven't undergone any price hike as the cost was already absorbed in their launch prices.
The new prices will be effective from August 1, 2019 and in a statement the company has said that increase in input costs due to new enhanced safety regulations have led to the price hike. The Bharat New Vehicles Safety Assessment Program (BNVSAP) became effective for all new models to be launched in India from October 2017 and will be mandatory for all models on sale by October 2019. According to the new norm, all the models will have to pass full-frontal impact and side impact collision test. Moreover, all the cars sold in the Indian market will also have to meet the pedestrian safety regulations before October 2020. In addition to these norms, all cars will also have to be fitted with dual-airbags speed-alert system, seat-belt reminder and rear parking sensors.
Hyundai's most affordable model in the market is the Santro hatchback and it has been developed on the new K1 platform which the company says is 63 per cent more rigid than the previous small car BA platform. The platform also underpins the Venue subcompact SUV and will spawn the upcoming Grand i10 as well. Hyundai has discontinued the entry-level D-Lite and Era variants on the Santro and the new Era Executive variant which is now the base variant, gets all safety features as standard.