- The hike will be up to Rs. 1,500
- It will vary as per the model and region
Hero MotoCorp has announced that the prices of its select motorcycles and scooters will increase from 1 July, 2024. The hike will be up to Rs. 1,500 and vary as per the model and region. The company has clarified that the reason for the price increment is the need to partially offset the impact of increasing input costs.
Notably, Hero MotoCorp is one of the few brands that make an announcement before increasing the prices of their products, unlike most other companies which silently revise the prices. The last price hike announced by Hero was in October 2023 for the same reason mentioned above. The automotive sector has been dealing with a rise in raw material costs since last year. Metals such as steel and nickel, which play a crucial role in the manufacturing of ICE and electric two-wheelers, have become more expensive to acquire since last year. The brands are forced to pass these hikes in manufacturing costs to customers owing to their quantum being substantial.
Hero MotoCorp’s India portfolio has a wide array of motorcycles and scooters with varying prices. The most affordable offering from the brand is the HF Deluxe, which starts from Rs. 57,500 while the flagship offering is the Karizma XMR which costs Rs. 1.80 lakh. The company also retails an electric scooter, Vida V1 which starts from Rs. 1.30 lakh (all prices are ex-showroom, Mumbai).
