Hero MotoCorp, the country’s largest two-wheeler manufacturer announced that, from July 1, 2021, it will increase the ex-showroom price of its motorbikes and scooters.
The price rise is necessary to partially offset the impact of ongoing commodity price increases. In order to minimise the impact on customers, the firm continues to aggressively pursue cost-cutting initiatives,” Hero MotoCorp said in a statement.
The price rise will be up to Rs. 3,000 across the entire spectrum of bikes and scooters, with the actual amount varying depending on the model and market.
On Monday, Maruti Suzuki revealed plans to hike prices across its entire car range in the coming quarter to offset an increase in input costs. The company did not indicate the amount of price hike that will be implemented, but they will differ depending on the models. This will be the company’s third price increase this year, blaming rising commodity costs.
Despite the pressure from increased material costs, Korean rival Hyundai Motor has maintained it has no imminent intentions to raise vehicle prices in India. The carmaker stated that it is currently working on controlling costs.
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