Hero MotoCorp announces a price hike of up to Rs2000 as of this date: Details here
Hero MotoCorp announces a price hike of up to Rs2000 as of this date: Details here
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Hero MotoCorp stated on Thursday that its bikes and scooters will be more expensive across the country beginning January 4, 2022. The price increase would be up to 2,000, with the actual amount depending on different models and markets, according to the two-wheeler behemoth.

According to Hero MotoCorp, the increased price change was necessary due to increasing raw material costs. The price increase would somewhat offset the impact of continually rising commodity prices. The automaker increased the price of its two-wheelers by up to 3,000 dollars in the second price increase. Hero MotoCorp has previously justified price increases by citing increasing production costs as a result of rising raw material costs.

Kawasaki and Ducati, two of India's two-wheeler manufacturers, have announced price increases that will take effect in January of next year. Tata Motors, Toyota, Volkswagen, Skoda, Citroen, Honda Cars India, Renault, Mahindra & Mahindra, and Mahindra & Mahindra have all announced price increases for their cars, which will take effect in January of next year.

Several automotive manufacturers across several categories boosted the cost of their vehicles at the start of 2021 in an attempt to counteract the impact of poor sales owing to the Covid-19 epidemic in 2020. Within the last six months, Hero MotoCorp has announced three price increases for its two-wheelers. On July 1, the domestic two-wheeler behemoth raised the ex-showroom pricing of its bikes and scooters by up to rs 3,000, followed by another price rise on September 30.

Meanwhile, raw material costs, which are thought to have fueled subsequent car price rises in India, were forecast to continue at multi-year highs in the first half of this fiscal year. However, according to a report by the rating agency ICRA, raw material prices is expected to soften in the second half of this fiscal year.

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