Indian two-wheeler manufacturer, Hero MotoCorp has announced the latest round of price increase in the India market. The price hike will be issued to its entire range of two-wheelers. New prices will be effective from April 1, 2021, across the country.
The prices of motorcycles and scooter have been hiked for the second time this year by the company. The first hike was issued at the start of the year on January 1, 2021. At the time, the price went up by around Rs 1,500.
However, this time around the company has announced a price hike of up to Rs 2,500. The amount increase on each model will vary with the variant and the market region as well. The exact price increase of each model will be known at the start of the next month.
According to the company, “The price hike has been necessitated to partially offset the impact of increased commodity costs. The company has accelerated its cost-savings program to ensure minimal impact on the customer. The price increase across the range of two-wheelers will be up to Rs. 2500, and the exact quantum of the increase will vary on the basis of the model and the specific market.”
The rising input costs for manufacturing especially with steel has forced brands to pass on a part of the cost to customers. Additionally, the Covid-19 pandemic is still very much present in India, which could also pose some challenges to brands in the production of vehicles.
In other news, Hero MotoCorp recently launched a new variant of its Destini 125 scooter called the ‘Platinum’ in the market. The Destini 125 Platinum features a host of changes and upgrades over the standard variant of the scooter — here are more details.
Thoughts About The Hero Motorcycles & Scooters Second Price Hike Announced In 2021
Hero has joined the list of manufacturers announcing a price hike starting this April. However, the increase in pricing is relatively less. It could be neutralized via some dealer level offers on all motorcycles and scooters. Attractive finance schemes will also help with the increase in pricing as well.