Hero motorcycle and scooter prices set to rise from next month
If you are planning to buy a Hero motorcycle or scooter, get ready to pay more from April 1. India's largest two-wheeler manufacturer has announced that the prices of its models across lineup is set to increase from next month. Hero MotoCorp has decided to increase the prices by up to 2 per cent. The decision to hike the prices of its models comes as the industry is preparing to update their lineup according to the new emission norms called Bharat Stage 6 Phase 2, set to start from April 1.
The new BS6 Phase-2 and RDE fuel regulations will be made mandatory for all vehicles. Hero MotoCorp told in the exchange filing that the company is increasing the price in order to offset the impact of rise in production cost to meet the stricter emission norms. The price revision became obvious due to increase in cost to include OBD 2 (on-board diagnostics) transition.
From April 1, all vehicles will need to have OBD 2 device to monitor emission levels in real time. The OBD 2 device will monitor vehicle parts like the catalytic converter and oxygen sensors to keep emission levels in check.
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Hero MotoCorp has said that the customers will have to bear very little burden of the increased price. Hero MotoCorp has not revealed the models which will be updated with new RDE engines to meet the emission norms. It is also not officially known which models will be affected by the price rise. The two-wheeler manufacturer said that it will revise the ex-showroom prices of select motorcycles and scooters. The exact increase in prices will vary depending on models and markets.
Several other carmakers and two-wheeler manufacturers have already announced similar hikes in prices of their models. All these hikes were necessitated due to rising input costs to add new engines RDE compliant and compatible with new emission norms. Among those who have announced similar hikes are Kia India and Tata Motors.