Country’s largest two-wheeler manufacturer, Hero MotoCorp on June 30 said it will make an upward revision in the ex-showroom prices of its motorcycles and scooters, effective from July 3, due to higher input costs.

The price increase will be around 1.5 per cent and the exact quantum of increase will vary by specific models and markets, the company said in a statement.

“The upward revision of the prices of motorcycles and scooters is part of the price review that the company undertakes from time to time, keeping in mind various factors like price positioning, input costs, and business imperatives,” it said, adding that Hero MotoCorp will continue with innovative financing programmes to minimise the impact on the customers.

The company also added that the onset of monsoon in most parts of the country and overall economic indicators bode well for a growth in demand. It expects the industry volumes to pick up leading into the upcoming festive season.

This is the second price increase by the company in this financial year. In April, it made an upward revision in the ex-showroom prices of its select motorcycles and scooters by around two-per cent.

The price revision was necessitated mainly due to cost increases on account of the on-board diagnostics (OBD) transition, the company had said.

Meanwhile, in the luxury car segment, Lexus India has also announced to revise the price of its sedan – Lexus ES – effective July 1.

“As a part of our commitment to excellence and despite our best efforts to mitigate the effects, the current circumstances require us to raise the prices for the Lexus ES 300h luxury sedan. We would like to assure our valued customers that we are trying our best to minimise such increases, against various cost pressures. This price adjustment is purely for the Lexus ES 300h,” Naveen Soni, President, Lexus India, said.

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