- Hero MotoCorp to increase prices from 1 January 2021
- Price hike will be up to Rs 1,500
- Increase in raw material costs is said to be the main cause
Hero MotoCorp has announced that it will increase the prices of all of its two-wheelers from 1 January 2021. The increment will be up to Rs 1,500 and it will vary as per the model. As conveyed by Hero, the reason for this hike will be the consistent rise in commodity costs which includes steel, aluminum, plastic and precious metals.
In the past few months, we have been observing a steady increase in the prices of two-wheelers from almost all manufacturers such as Bajaj, Yamaha and Suzuki. The most recent price bump was witnessed for KTMs wherein all of its motorcycles became expensive, except for the RC 200 and the recently-launched 250 Adventure. And the steady hike in raw material costs is one of the common reasons for this. In order to tackle these changes and to retain the affordability of its products, Hero has been making certain cost-saving overhauls in its operations under the Leap-2 umbrella.
In other news, Hero MotoCorp has joined hands with the American bike maker, Harley-Davidson. Under this partnership, Hero recently signed 10 Harley dealerships for India. The latter will continue to sells it existing products through these stores while it will also launch its new offerings in India.
