Implementation of multiple proposed regulatory specifications can push up commercial vehicle prices by 10-12%, ratings agency ICRA said on Monday.
In its report on the Indian commercial vehicle industry, ICRA said the domestic automotive industry is undergoing rapid transformations, with increased focus by the government on implementing emission norms, safety systems and other standards that will bring the country at par with other major automotive markets.
Accordingly, ICRA said there have been multiple regulatory interventions in the recent past, with the industry adopting stringent emission standards in a relatively short span of time, as well as driver safety and comfort standards such as advanced braking systems (ABS), speed limiting devices (SLD) and blowers in cabins, with a view to reducing vehicular emissions and improving road safety and driver comfort.
The ratings agency pointed out that there are multiple proposed regulatory changes on the anvil such as the mandatory fitment of air-conditioners (ACs) in driver cabins which has already been announced with effect from January 1, 2025.
It added that other standards like blind spot information systems, advanced emergency braking systems, roll over protection systems, driver alerting systems are proposed to increase road safety and prevent accidents. Other regulations like mandatory fitment of fire detection, alarm and suppression systems have also been introduced for select segments like school buses and inter-city buses with effect from October 1, 2023, ICRA said.
