Bajaj Auto is looking to raise prices of its two models – Platina and Discover – from next month in order to partially offset increase in input costs.
The Pune-based company had earlier raised prices of its Pulsar model range by Rs 1,000 at the end of festival season this year.
“We plan to hike prices of Discover and Platina models in January. We have not hiked the prices of these models so far,” Bajaj Auto Ltd President (Motorcycle) Eric Vas said.
The company has, however, not yet decided on the quantum of the price hike, he added.
“We have’nt decided on the quantum of the hike so far but it will definitely depend on two things. One, we will have to look at the sales performance and secondly also have to consider excise duty structure going ahead,” Vas said.
When asked about the reasons for the proposed hike in prices of the two models, Vas said: “Our vendors have taken a hit because of the minimum wages of workers that have gone up considerably and secondly power cost has also gone up considerably, affecting all of us.”
He added that even the company’s rivals in the domestic market have gone for price hikes across their product portfolios this year.
The company, which saw its motorcycle sales decline by 6 per cent at 2,61,948 units in November 2014, expects the industry to stay subdued in December as well.
“December is not going to be different from November in terms of sales. We expect December sales to witness a decline as compared to same period of last year,” Vas said.
Besides, Platina and Discover, the company also sells models like Pulsar, Avenger and Ninja.