This is the fifth time Hero MotoCorp has raised the price of its two-wheelers in the past 12 months. It has rallied twice before since April.
India’s Leading Two Wheeler Manufacturer Hero MotoCorp has once again raised the price of its bikes. The company announced on Thursday in a regulatory filing that its two-wheeler price increase will amount to 1,000 for each model. Hero attributes the latest price hike to cost inflation. The new price is in effect. The latest price hike is the fifth from Hero MotoCorp within the past year and the third within the last six months.
Hero MotoCorp announced that the price increase will affect the ex-factory prices of all models of motorcycles and scooters it offers in India currently. Among some of the popular models that Hero sells in India include Sparkling, XPulse Bicycle Series. Prices of motorcycles and scooters Hero MotoCorp 55,450 (factory) for the bike from entry level HF 100, to 1.36 lakh (old gallery) for XPULSE 200 4V.
“The price revision is necessary to partially offset the impact of cost inflation,” Hero MotoCorp said in the regulatory filing. Two-wheeler maker says price hike ‘will be up to 1,000 and the exact amount of increment will vary by model and market’.
The latest price hike comes after two more that went into effect in April and July. In April, Hero announced the price hikes. 2,000 while in July another rally of 3,000 was in effect. Overall, this is the fifth time India’s top two-wheeler maker has hiked the prices of its bikes and scooters in a year. It also comes at the start of the festive season, one of the key sales times for all car manufacturers in India.
Date of first publication: September 23, 2022, 10:19 AM IST