As the hatchback market is now getting more intense by the day, the market prices are perhaps driven by the high competition. Experts believe that Hyundai's move to launch a cheaper i20 with the Era variant is a true testimonial to the same.

Notably, i20 has been doing very well for this Korean automaker in the Indian market and the company has even shifted a part of the export production to turkey to make more cars for the domestic market.

However, the high competition from products matching the likes of Swift from Maruti Suzuki and Volkswagen's Polo has left no choice for Hyundai to cut down on the price of i20 to make it even more successful in the Indian market.

Keeping in mind the fact that the i20 has already surpassed the expectation of the company in terms of domestic sales, the new variant is expected to take the sales figures even higher.

In fact, analysts are supporting the fact that the Indian automotive industry will see such more instances of pricing being more aggressive as the competition in the marketplace is growing by leaps and bounds.