New Delhi: Country’s largest two-wheeler maker Hero Honda has increased the prices of its products across various models by up to Rs1,500 owing to increase in input cost.
“A couple of weeks back, we have increased the price across various models in order to partially pass on the increase in input cost to the customers,” Hero Honda Motors Senior Vice President (sales and marketing) Anil Dua told reporters.
The company’s high-end bike Karizma will now be costlier by Rs1,500 while the midrange comprising Splendor plus, Passion plus, Hunk and CBZ will see a price hike between Rs600 and Rs850.
“However, we have kept the price hike at the entry level bike CD Deluxe to Rs 100,” Dua said.
He said the price hike will not have major impact on the sales as the whole industry have increased the prices recently.
Considering the high interest rates and tight financing options available, Dua said the industry is expected to witness a single digit growth this fiscal year.
Asked about the company’s own growth projection, he declined to give specific figures but said: “In the last one and half year we have managed to grow our market share better than industry’s growth. We are confident of continuing this kind of performance.”
Earlier this year, the company has said it would be launching 12 new models in the next 18 months.
“We have already launched one model so far and we are on track to launch rest of the models in the next 13 months,” he stated.