Despite the continuous fall in demand for two-wheelers and a slowdown in the auto sector, automakers have announced a hike in the prices of their vehicles. Companies say the increase in costs and marketing expenses has forced prices to rise. Let's know the full information is in detail
The companies that have decided to hike the prices of their bikes include Hero MotorCorp, Honda Motorcycles, and Scooters India, Bajaj Auto, TVS Motor and Suzuki Motorcycles. Companies have hiked prices from Rs 300 to Rs 3000. Companies say the bikes made in June-July include new safety features, higher import duty on parts and a host of new features, which have increased their costs. Royal Enfield says the prices of their vehicles are already higher than other bikes and scooters. Suzuki Motorcycles Vice President Devashish Handa says that the prices have been hiked very low so that the customers are not burdened too much. The new prices have come into effect from 1st August. The ex-showroom prices of scooters have been hiked by up to Rs 500. TVS has not hiked the prices of its bikes since they raised prices two months ago. On the other hand, she says that she will no longer make any additions before bs6 comes into force.
Hero MotorCorp has hiked prices in the July products line by one percent, while Bajaj has increased by Rs 2,950. TVS Motor has increased by 0.1 percent in the first quarter and on some models in July, followed by 0.3 percent. Honda, on the other hand, says it is committed to delivering the latest feature in the industry in its vehicles. The current business environment is extremely challenging, as costs are rising steadily. Honda has hiked from 0.3 to 0.5 percent. Two-wheeler companies are extremely cautious about the upcoming festive season and it is time to increase the stock, but dealers want to keep inventory at least. According to Handa, he has received serious deductions on dealer inventory. That has affected their production. Dealer inventory is 45 days long, which may lead to a marginal increase before the festival begins. Honda Motorcycles & Scooters India is waiting for sales to be displayed on the occasion of Raksha Bandhan and Onam. Because these festivals will be litmus tests of future demand.
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