India’s largest two-wheeler maker Hero MotoCorp has announced price hike on its entire range of motorcycles and scooters by up to Rs 3,000 from July 1. The prices have been hiked to partially offset the steadily growing overall cost inflation, including commodity prices, said the company in a statement. In a regulatory filing, the company said, “The exact quantum of increase will be subject to the specific model and market”. The company further said, “The price revision has been necessitated to partially offset the steadily growing overall cost inflation, including commodity prices”.
This is a not the first price hike for the brand, as Hero Motocorp earlier announced an increase in the prices from April 5 as well. The upward revision was necessitated to partially offset the impact of increasing commodity prices. “The price revision will be up to Rs 2,000 and the exact quantum of increase will be subject to the specific model and the market,” the company said in a statement.
Hero MotoCorp sells a range of models, ranging from entry-level HF100 with prices starting at Rs 51,450, while Xpulse 200 4V tagged at Rs 1.32 lakh (ex-showroom Delhi).
Hero Motocorp recently unveiled the name of its upcoming EV venture – ‘Vida – Powered by Hero’, a brand-new identity for its emerging mobility solutions, including upcoming Electric Vehicles (EV). Hero will officially unveil its first electric vehicle on July 1, 2022, to coincide with the birth anniversary of Dr. Brijmohan Lall, Chairman Emeritus of Hero MotoCorp.
Hero Motocorp decided to introduce a new brand name after feud with Hero Electric over retaining the Hero brand name. The matter went to the courts where Hero Electric, a separate company then Hero Motocorp was awarded the rights to retain the Hero tag.
With agency inputs