The country’s largest two-wheeler manufacturer, Hero MotoCorp said it will increase the ex-showroom prices of select motorcycles and scooters by one per cent from Tuesday.
The company in a statement said, “will make a marginal revision in the ex-showroom prices of select motorcycles and scooters, effective from October 3. The price increase will be around one per cent and the exact quantum of increase will vary by specific models and markets.”
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The price revision is part of its regular review of product competitiveness and positioning, factoring inflation, margins and market share, it added.
This is the second time in this financial year that the company has announced for price hikes.
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It made a revision in the ex-showroom prices of its motorcycles and scooters, effective from July 3, last time wherein the price increase was by around 1.5 per cent.
The upward revision was made due to the hike in input costs and business imperatives.