New Delhi. Country’s largest two-wheeler maker Hero MotoCorp on Thursday announced that it will increase prices of its entire model range by up to Rs 3,000 from September 20 to partially offset the impact of increased input prices. Hero MotoCorp said in a statement that the company will increase the ex-showroom prices of its motorcycles and scooters with effect from September 20, 2021.
Decision taken by increase in input cost The company said that the increase in prices is necessary to offset the effect of continuous increase in the prices of input costs. According to the two-wheeler giant, the price hike across the entire range of bikes and scooters will be up to Rs 3,000, with the exact amount depending on the model and market. This will be the company’s third price hike this year. The company had earlier increased the prices of its motorcycles and scooters by Rs 1,500 in January and again by Rs 2,500 in April this year citing increase in input cost.
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Hero Motocorp sold so many vehicles last month – Hero MotoCorp sells a wide variety of bikes and scooters in the domestic market. The company’s wholesale sales in the domestic market last month stood at 4,31,137 units as against 5,68,674 units in the same month last year. In the last year, there has been an increase in the prices of various essential commodities like steel and precious metals. Due to which the input cost has increased for the automakers.
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Earlier this month, the country’s largest carmaker Maruti Suzuki India (MSI) increased the prices of its entire product range except the Celerio by up to 1.9 per cent. The company said that they have decided to increase the prices due to increase in various input costs. This was Maruti Suzuki India’s third price hike this year.
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