Hero will be increasing prices of their entire range come January. According to Hero the rise in price – although marginal- are driven by an increased production cost. The price rise according to a release on Hero’s official website will average about Rs 400 per model. This move makes Hero the first motorcycle company to announce a price hike this December, following the likes of Hyundai, Nissan, Mahindra & Mahindra, Volkswagen, Maruti Suzuki India,
Tata Motors, Ford, Toyota Kirloskar Motor, Honda Cars India who have also announced revised prices across their range.
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“The price hike translates to about Rs 400 per model. The exact quantum of the increase will vary, basis the model and the specific market,” Hero MotoCorp said in a statement. With three new bikes set for launch next year, it is likely that even these new products will also get revised prices relative to the outgoing models. However, we expect that none of the three motorcycles will breach the Rs 2000 mark in terms of price change.
While the price gain might not seem like a lot, it might be a push to drive rural sales ahead of the new year. Hero’s current portfolio ranges from the HF Deluxe to the range topping Karizma ZMR currently, however, if yesterday’s launches were any indicator. It is likely that Hero is working on new motors and products for all bikes, to move out from under Honda shadow. Hero has been spending large sums in Royalties to their previous partner in order to use the engine tech, but seem to be on the warpath reducing Royalties wherever possible. This was evident in the fact that 7 model were removed from Hero’s portfolio by June 2017.
