A vehicle safety system is a set of devices and features that are designed to help prevent accidents, reduce the severity of crashes, and protect the occupants of a vehicle. Vehicle Safety Survey was conducted in 2022-2023 to understand how the general population perceives the safety provided by the equipment/ features and their willingness to pay for these features. The decision to make a feature mandatory depends on various factors such as the level of safety provided by that feature, customer demand, willingness to pay, legal requirements etc. There are three types of safety system: Active safety system, passive safety system, and driver assistance system. The willingness to pay (WTP) component is indirectly evaluated by their responses on whether a feature has to be made mandatory.
The WTP will provide:
- The value placed by the customer on that feature.
- Information necessary for the stakeholders for subsidising the cost of the feature to be made mandatory, to make it affordable for the consumers.
