Hero MotoCorp hikes prices of two-wheelers again, third hike this year
India's top two-wheeler manufacturer Hero MotoCorp has once again hiked prices of its bikes. The company announced on Thursday in a regulatory filing that the increase in prices of its two-wheelers will be up to ₹1,000 for each model. Hero attributed the latest hike in prices to cost inflation. The new prices has already come into effect. The latest price hike is the fifth from Hero MotoCorp within the last one year, and the third in the last six months.
Hero MotoCorp announced that the price hike will impact the ex-showroom prices of all the motorcycles and scooters it offers in India currently. Among some of the popular models Hero sells in India includes the likes of Splendor, XPulse range of bikes. Hero MotoCorp motorcycles and scooters price range ₹55,450 (ex-showroom) for its from entry level bike HF 100, to ₹1.36 lakh (ex-showroom) for the XPULSE 200 4V.
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"The price revision has been necessitated to partially offset the impact of cost inflation," Hero MotoCorp said in the regulatory filing. The two-wheeler manufacturer said the price hike 'will be up to ₹1,000 and the exact quantum of increase will vary by model and market'.
The latest price hike comes after two more hikes which came into effect in April and July. In April, Hero had announced a price hike of ₹2,000 while in July, another price hike of ₹3,000 came into effect. Overall, this is the fifth time that India's premier two-wheeler manufacturer has increased prices of its range of bikes and scooters in the past one year. It also comes at the start of the festive season, one of the crucial sales window for all auto manufacturers in India.