Hero MotoCorp to hike prices of bikes and scooters from October 3

Hero MotoCorp, India's largest two-wheeler manufacturer, has announced on Friday that it will increase the prices of some of its motorcycles and scooters from next week. The manufacturer issued a statement yesterday saying the select models will receive a nominal price hike of around one per cent. However, the exact increase in prices will vary from model to model. The latest hike comes as Hero's periodic review of price, inflation and product competitiveness among other aspects.

Hero MotoCorp has said that the new prices will be applicable from Tuesday, October 3. The manufacturer is yet to share the list of models which will see increase in price in this latest hike.Hero MotoCorp offers bikes ranging between 100 cc and 210 cc including both commuter and performance models. It also offers scooters mostly with 125 cc engine.

The statement issued by the two-wheeler manufacturer explained why Hero decided to increase the prices in the middle of the ongoing festive season. It reads, “The upward revision of the prices of motorcycles and scooters is part of the price review that the company undertakes from time to time, keeping in mind various factors like price positioning, input costs and business imperatives."

Hero MotoCorp is currently betting big on new product launches over the next few quarters, in an attempt to enhance its market share and ensure business growth. The manufacturer recently brought back the iconic Karizma brand with the new Karizma XMR 210 motorcycle. It was launched in late August at an introductory price of ₹1.73 lakh (ex-showroom). However, from October 1, the introductory price will be removed and the bike will cost ₹1.80 lakh (ex-showroom) after the revision.

Hero MotoCorp has also said that it hopes demands on its bikes and scooters to increase in coming days on the back of positive economic indicators. Its statement reads, “Hero MotoCorp will continue with innovative financing programs to minimize the impact on the customers. The onset of monsoon in most parts of the country and overall economic indicators bode well for a growth in demand, and industry volumes are expected to pick up leading into the upcoming festive season."

Hero MotoCorp has also launched the new Xtreme 160R 4V in India at a starting price of ₹1.27 lakh (ex-showroom). It comes powered by a 163 cc single-cylinder engine mated to a five-speed gearbox. The bike can generate 16.6 bhp of power and 14.6 Nm of peak torque.

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