OPEN APP
Home / News / India /  Hero MotoCorp to raise two-wheelers' prices by up to 3,000 from 1 July
Listen to this article

Hero MotoCorp on 23 June announced 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.

Though the exact quantum of the price hike will depend on the basis of the particular model, the firm said in a stock regulatory filing. 

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," the company statement said.

ALSO READ: Honda hikes prices of these car models by up to 20,000. Check latest rates

The two-wheeler major is not the only firm to have announced price hike. In April, country's largest car manufacturing firm Maruti Suzuki announced that it would increase prices during the month to offset the rising in input costs.

Owing to constant increase in input costs largely driven by pricier commodities, the carmaker already hiked vehicle prices by around 8.8 percent between January 2021 and March 2022. But in April, it on an average increased cars' prices by 1.3 percent of all its models.

Maruti Suzuki aims to sell 4-6 lakh CNG units in the current fiscal year depending upon supply situation of essential components.

Also, several other carmakers too announced to have a raise citing similar issue related with high input costs. Likewise, Honda Cars India has raised the prices of its certain flagship models such as Honda City, Honda Amaze, and Honda WR-V by around 11,900 to 20,000 across all three models and their variants currently on offer.

 

Subscribe to Mint Newsletters
* Enter a valid email
* Thank you for subscribing to our newsletter.
Close
Recommended For You
×
Edit Profile
Get alerts on WhatsApp
Set Preferences My ReadsFeedbackRedeem a Gift CardLogout