Reeling under high input cost, the country?s largest two-wheeler manufacturer Hero Honda on Tuesday said that it has hiked the prices of vehi-cles across models by up to Rs 1,500.
??The company increased the prices across different models in order to partially pass on the rise in input cost to the customers,?? Hero Honda Motors senior vice president (sales and marketing) Anil Dua said on the sidelines of a marketing summit organised by CII.
The price hike makes its high-end bike ?Karizma? dearer by Rs 1,500, while mid-range bikes like ?Splendor Plus?, ?Passion Plus?, ?Hunk? and ?CBZ? will be dearer by Rs 600 to Rs 850. The company has not gone for a major price hike for the entry level two-wheeler CD Deluxe; it will now cost Rs 100 more.
Dua, however, believes that the increase in the price of two-wheelers will not impact sales in a big way.
Earlier this month, the the company increased the price of its 100cc bikes by up to Rs 850 to offset rising costs .
Auto makers in the country had recently raised prices by up to 3% to offset higher costs of materials such as steel, even as rising interest rates and high fuel prices have slowed sales. Leading two-wheeler companies, including Bajaj and TVS, had hiked prices to offset increased manufacturing costs.