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Hero MotoCorp on Monday announced that it would increase the prices of select two-wheeler models by up to ₹1,500 due to higher input costs. The revised prices will be effective from July 1, 2024.
“Hero MotoCorp will make an upward revision in the ex-showroom prices of select motorcycles and scooters, with effect from July 1...The price revision will be up to ₹1,500 and the exact quantum of increase will vary by specific model and market,” the company said in a statement.
The revision has been necessitated to partially offset the impact of higher input costs, it added.
Previously, the company increased the ex-showroom prices of select motorcycles and scooters, effective from October 3, 2023, by one per cent.
Also read: Indian automobile industry records 12.5% growth in FY24
The price revision was part of its regular review of product competitiveness and positioning, factoring inflation, margins and market share.
In July 2023, the company increased the prices of its scooters and motorcycles by 1.5 per cent, citing various factors like price positioning, input costs and business imperatives.
Shares of Hero MotoCorp closed at ₹5,530 apiece on the BSE on Monday, up 1.43 per cent from the previous close.
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