Hero MotoCorp has announced that they will hike the prices of their motorcycles and scooters up to Rs 3,000. The price hike will come into effect from July 1, 2021.
The brand hasn’t shared any details on which models will get the price hike or what will be it. But we can assume that the price hike will be dependable upon the model and the specific market.
Hero is currently the largest two-wheeler manufacturer in India. Regarding the price hike, they said that, given the increase in the price of raw materials, the cost of production has gone up. The price hike has hence been unavoidable, to partially offset the cost of commodity prices.
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This is the third hike in the year, as the company had increased prices of its two-wheelers in January 2021, and in the following April, we saw another price hike. For all the hike’s the company is stating the same reason. Since the pandemic has stuck the business worldwide, it’s no wonder that the suppliers are facing issues in supplying at the previous price.
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