- Price increase will be up to Rs 1,500
- Price revision necessitated due to inflationary costs
- New prices to be effective from 1 December
Hero MotoCorp has announced that it will revise the prices of its motorcycles and scooters in the Indian market from 1 December, 2022. The Indian two-wheeler manufacturer said in its press statement that this price increase would be up to Rs 1,500 and the exact quantum of revision will vary by specific models and markets.
Speaking about price revision, Niranjan Gupta, Chief Financial Officer (CFO), Hero MotoCorp, said that the upward revision of the prices of motorcycles and scooters has been necessitated due to overall inflationary costs. Gupta further added that the company will continue to provide financing solutions in order to cushion the impact on the customers.
Elaborating on the company’s program, Gupta said that Hero MotoCorp has also put in place accelerated savings programs, which will help the brand to offset any further cost impact, and drive improvement in margins. Further, the economic indicators are favourable to a growth in demand, and the company expects industry volumes to pick up in coming quarters.
In more updates, Hero MotoCorp is expected to update its portfolio with the launch of the Xpulse 200T 4V in our market. The company has already released teasers for this upcoming motorcycle. However, its launch date is not available yet. We expect this new model arrives after the aforementioned price increase that is scheduled to take place next month.
