Hero MotoCorp, the largest two-wheeler manufacturer in the nation, has declared that, as of December 1, 2022, the price of its motorbikes and scooters will increase up to Rs 1,500.
Hero Moto announced that it will increase the ex-showroom prices of its two-wheelers starting on December 1 in its fourth price increase of the current fiscal year, with the price increase ranging across different models and markets.
The car industry behemoth has blamed the price increase on general inflationary charges. However, according to the company’s CFO Niranjan Gupta, it will keep offering creative financing options to lessen the effect of the increase on clients.
“We have also put in place accelerated savings programs, which will help us to offset any further cost impact, and drive improvement in margins,” he added.
Economic indicators suggest that demand will grow favourably moving forward, and industry volumes are predicted to increase in the next quarters.
To offset the increased input costs, Hero Moto extended price increases across all of its models in April by up to Rs 2,000, followed by an up to Rs 3,000 price increase in July, and by up to Rs 1,000 in September.