Hero MotoCorp, the largest two-wheeler manufacturer in India, has increased the prices of its motorcycles and scooters by up to Rs 1,000. The price hike comes into effect from September 22, 2022.
The company cited rising input costs as the reason for the price hike. These costs have been increasing due to factors such as rise in the price of steel, aluminum, and plastics.
The price hike will vary depending on the model and variant of the motorcycle or scooter. The most affordable models, such as the Hero HF Deluxe, will see a price hike of Rs 500, while the more premium models, such as the Hero Xpulse 200, will see a price hike of Rs 1,000.
Hero MotoCorp is not the only two-wheeler manufacturer that has increased prices in recent months. Other major manufacturers, such as Bajaj Auto and TVS Motor Company, have also increased prices of their products.
The price hike is likely to put a dent in the demand for two-wheelers in India. However, Hero MotoCorp is confident that the demand for its products will remain strong, despite the price increase.
The company said that it is expecting to sell around 6.6 million motorcycles and scooters in the current financial year (2022-23). This is a slight increase from the 6.5 million units that it sold in the previous financial year.
Hero MotoCorp is also investing heavily in new products and technologies. The company is planning to launch a number of new motorcycles and scooters in the coming years. These new products are expected to help the company to maintain its market leadership in India.
Here are some of the key takeaways from the price hike:
- Hero MotoCorp has increased the prices of its motorcycles and scooters by up to Rs 1,000.
- The price hike comes into effect from September 22, 2022.
- The company cited rising input costs as the reason for the price hike.
- The price hike will vary depending on the model and variant of the motorcycle or scooter.
- Hero MotoCorp is not the only two-wheeler manufacturer that has increased prices in recent months.
- Other major manufacturers, such as Bajaj Auto and TVS Motor Company, have also increased prices of their products.
- The price hike is likely to put a dent in the demand for two-wheelers in India.
- However, Hero MotoCorp is confident that the demand for its products will remain strong, despite the price increase.
- The company is expecting to sell around 6.6 million motorcycles and scooters in the current financial year (2022-23).
- Hero MotoCorp is also investing heavily in new products and technologies.
- The company is planning to launch a number of new motorcycles and scooters in the coming years.
- These new products are expected to help the company to maintain its market leadership in India.