Hero MotoCorp to increase two-wheeler prices by 1.5% from July 3rd

Hero MotoCorp to increase two-wheeler prices by 1.5% from July 3rd

Hero MotoCorp to increase two-wheeler prices by 1.5% from July 3rd

Hero MotoCorp, the renowned two-wheeler manufacturer, has revealed its plans to raise the prices of motorcycles and scooters by approximately 1.5% effective from July 3rd. This decision is attributed to various factors, including the surge in input costs faced by the company.

In April of this year, Hero MotoCorp had already implemented a price hike of around 2%. However, the latest increase will vary in magnitude across specific models and markets, as stated by the company.

The upward adjustment of prices for motorcycles and scooters is a regular practice for Hero MotoCorp, undertaken periodically considering factors such as price positioning, input costs, and overall business requirements. By taking this step, the company aims to maintain its competitive edge in the market.

To alleviate the impact on customers, Hero MotoCorp will continue to offer innovative financing programs. These initiatives are designed to provide customers with convenient options and minimize any potential financial burden resulting from the price hike.

Furthermore, with the arrival of monsoon in most parts of the country and positive economic indicators, the demand for two-wheelers is expected to experience growth. This trend is anticipated to continue leading up to the upcoming festive season, contributing to an increase in industry volumes.

About Hero MotoCorp:

Hero MotoCorp Limited is a motorcycle and scooter manufacturer based in New Delhi, India. It is a multinational company and is recognized as the largest producer of two-wheelers worldwide. With a significant market presence, it holds approximately 46% market share in the Indian two-wheeler industry. As of May 27, 2021, the company’s market capitalization stood at ₹59,600 crore.

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