Country’s largest two-wheeler manufacturer Hero MotoCorp on Wednesday said it will make an upward revision in the ex-showroom prices of its select motorcycles and scooters, by around two per cent, effective from April 1.
The price revision has been necessitated mainly due to cost increases on account of on-board diagnostics (OBD 2) transition. Hero MotoCorp will continue to provide innovative financing solutions in order to cushion the impact on the customers, the company said in a statement.
Varying prices
“The price revision will be around two per cent and the exact quantum of increase will vary by specific models and markets,” it said adding that “the rural markets have been witnessing an upswing in demand, thanks to the government schemes in the social sector and healthy agricultural outputs.”
This augurs well for the industry as the growth momentum is expected to lead into the upcoming festive season towards the latter half of the fiscal, Hero MotoCorp said.
Other companies are also expected to follow suit before the new norms kicks off from April 1.
In the commercial vehicle segment, Tata Motors on Tuesday had announced that it will be increasing the prices of its products by up to five per cent from April 1, to comply with the more stringent BS6 phase II emission norms.