Indian multinational motorcycle and scooter manufacturer Hero MotoCorp Limited has announced that it will hike the ex-showroom prices of its motorcycles and scooters from April 2021.
Rising input costs have compelled the Auto major to increase the prices of motorcycles and scooters starting next month. In a statement to Stock exchanges, the company said: "Hero MotoCorp will make an upward revision in the ex-showroom prices of its motorcycles and scooters, with effect from April 1, 2021."
The company6 said the price hike has been necessitated to partially offset the impact of increased commodity costs. "The company has accelerated its cost-savings programme to ensure minimal impact on the customer," Hero added.
The company, however, did not give specific details about the quantum of the price hike. Hero said the price increase across the range of two-wheelers will be up to Rs 2,500, and the exact quantum of the increase will vary based on the model and the specific market.
The announcement to hike prices by Hero comes a day after India's largest carmaker Maruti Suzuki said it will raise vehicle prices from April given high commodity prices.