Hero MotoCorp has announced another price hike for its two-wheelers. The company will be increasing prices of select models by 1 percent from October 3, 2023 onwards. However, the bikemaker hasn’t specified the exact quantum of increase or names of the models that are going to witness the latest price hike yet.
Hero MotoCorp price increase
The company states that the latest price revision is part of its regular review of product competitiveness and positioning, factoring inflation, margins and market share. Earlier this year, Hero increased prices of its select models by 1.5 percent on July 3. The recent price hike comes just ahead of the festive season when automobile sales are at peak.
Recently a few days ago, the country’s largest two-wheeler manufacturer announced a price hike on its latest offering— Karizma XMR. Launched a month ago, the new Karizma XMR will carry a price tag of Rs 1.80 lakh (ex-showroom), from October 1. Prices of the sports bike have been increased by Rs 7,000.
The recent price hikes have been a result of ever increasing input costs led by various factors. Hero has the largest portfolio of two-wheelers in India with motorcycles and scooters ranging from 100cc to 210cc. It also retails electric scooters under a subsidiary brand called Vida– the first scooter under this range V1 was launched last year.
