Hero MotoCorp has announced that it will be increasing the ex-showroom prices of its motorcycles and scooters with effect from July 3, 2023. The world’s largest two-wheeler maker by volume said that the price hike will be around 1.5 per cent and the exact quantum of increase will depend on the model and market. The last time Hero MotoCorp increased prices on its two-wheelers was in April this year with the transition to OBD2 norms.
In a statement, Hero MotoCorp said that the upward revision of the prices of motorcycles and scooters is part of the price review. The price fluctuation is based on factors like price positioning, input costs and business imperatives, the company said further. The two-wheeler giant aims to offset the price hike by offering more innovative financing programs to customers to mitigate the impact.
The price hike arrives just ahead of the festive season when the buying cycle witnesses an uptick in the country. Hero MotoCorp is also optimistic about the onset of monsoon in most parts of India, along with more positive economic indicators that bode well for demand, especially in rural markets. The company said that industry volumes are expected to pick up leading into the upcoming festive season.
More recently, Hero MotoCorp launched the Passion Plus in the entry-level commuter segment. At the same time, the company introduced the Xtreme 160 4V as its new premium commuter motorcycle, showcasing a new premium product strategy that’s coming to the fore. The two-wheeler maker is expected to bring more motorcycles this year – updates and all-new alike. This includes the highly anticipated Karizma XMR 210, while a premium 125 cc commuter cannot be ruled out. The Hero-built Harley-Davidson X440 will be arriving first though with the launch slated on July 3, 2023.
First Published Date: 30 Jun 2023, 19:54 PM IST