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Hero MotoCorp has announced that it will increase the prices of its motorcycles and scooter from today, July 1, 2022. The company, it its regulatory filing on June 23, notified that it will raise the prices of its motorcycles and scooter by up to 3,000 across the entire range from 1 July, 2022 onwards.

Hero MotoCorp said in a statement, “Hero MotoCorp will make an upward revision in the ex-showroom prices of its motorcycles and scooters, with effect from July 1, 2022. The price revision will be up to Rs. 3000." Additionally, the company said that the exact quantum of increase will be subject to the specific model and market. 

The price hike has been attributed to the increased production cost due to the higher raw material prices. "The price revision will be up to Rs. 3000. The exact quantum of increase will be subject to the specific model and market. The price revision has been necessitated to partially offset the steadily growing overall cost inflation, including commodity prices," as per the company statement.

Meanwhile, earlier this week, the two-wheeler market leader Hero MotoCorp announced the launch of its new Passion 'XTec' motorcycle with prices starting at 74,590 (ex-showroom Delhi). The bike is powered by a 110cc engine with a power output of 9 BHP and has features like Bluetooth connectivity, SMS and call alerts, real-time mileage indicator, low-fuel indicator, side-stand engine cut-off and service reminder, Hero MotoCorp said in a statement. 

It is available in two options with the drum brake variant priced at 74,590 and the disc brake variant tagged at 78,990 (ex-showroom Delhi), it added. Hero MotoCorp Head of Strategy and Global Product Planning Malo Le Masson said the company's range of 'XTec' products, such as the Splendor XTec, Glamour 125 XTec, Pleasure 110 XTec and Destini 125 XTec have "received an overwhelming response from customers and we expect the Passion XTec to continue this trend." 

Stating that the Hero Passion brand enjoys massive customer trust for over a decade, Hero MotoCorp Chief Growth Officer Ranjivjit Singh said, "We are certain that the Passion XTec will enable us to further consolidate our leadership in the country's motorcycle segment."

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