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Hero MotoCorp Announces Two-Wheeler Price Hike, Effective from July 1

CalenderPublished at June 25, 2024 by BikeJunction
Hero MotoCorp Announces Two-Wheeler Price Hike, Effective from July 1

Hero MotoCorp has announced that the prices of its two-wheelers will go up from July 1. The reason for the price hike is due to higher financing costs and other economic factors. The company indicated that these increases would vary by model and market, aiming to offset rising manufacturing and distribution costs. 

Hero MotoCorp, a leading player in the Indian two-wheeler market, is ensuring that it continues to offer value to its customers despite the increase in prices. This decision is consistent with the industry practice of manufacturers adjusting prices to maintain profitability in fluctuating market conditions.

- The hike will be up to Rs. 1,500

- It will vary as per the model and region

- Hero MotoCorp to Increase Prices on Select Models Starting July 1, 2024

Hero MotoCorp has announced a price hike on select motorcycles and scooters from July 1, 2024, onwards. The increase, which will be 1500, will vary depending on the model and region. The company explained that the changes were necessary to partially offset the increasing cost of investments.

Announces Price Hike Amid Rising Raw Material Costs

Notably, Hero MotoCorp is one of the few companies that have already announced price increases, unlike many other companies that are making quiet changes. The last price hike from Hero was in October 2023 for similar reasons. In the automotive industry, raw material costs have risen since last year, as metals such as iron and nickel needed to make ICE, and electric two-wheelers have become more expensive. A significant increase in automobile manufacturing is forcing manufacturers to pass these increases on to consumers.

Hero MotoCorp has a diverse line of motorcycles and scooters in its Indian lineup at different price points. The brand's most expensive model is the HF Deluxe, which starts from Rs. 57,500, and the flagship model, Karizma XMR, is priced at Rs. 1.80 lakhs. In addition, the company has launched electric scooters priced from Rs. 1.30 lakhs. All prices are ex-showroom, Mumbai.

Before you go, do visit the Countdown Begins: BMW CE 04 Arriving in India on July 24, 2024

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