New Delhi: Hero MotoCorp, the country's largest two-wheeler company, will alarm its customer base with this decision. The company has announced that it will increase the price of all its models by up to Rs 3000 from next week.
Hero MotoCorp has attributed this rising price to growing commodity prices. Hero MotoCorp said in a statement that the company will increase the ex-showroom prices of its motorcycles and scooters from September 20, 2021.
Price to go up to Rs 3000
According to a statement from the company, the price hike has been necessitated to offset the impact of steadily increasing commodity prices. The statement added that the price hike across the range of motorcycles and scooters will be up to Rs. 3,000.
The exact quantum of increase will depend on the model and the market. This is the third time this year that the company has increased the price of its products.
Price hike for third time
The company had earlier hiked the prices of its motorcycles and scooters by Rs 1,500 in January, citing increasing commodity costs. This was followed by another increase of Rs 2,500 in April 2021.
Hero MotoCorp sells a variety of bikes and scooters in the domestic market. In the domestic market, the company sold 4,31,137 units last month, down 24 per cent from 5,68,674 units in the same period last year.
Prices of different components like steel and metal have increased in the last year. This has also increased the cost of vehicle manufacturing. Earlier this month, Maruti Suzuki India (MSI), the country's largest carmaker, raised the prices of all its models, except Celerio, by 1.9 per cent.
Car loan Information:
Calculate Car Loan EMI