Hero MotoCorp to hike prices of motorcycles, scooters from Jan 4
The price revision will be up to Rs. 2,000 according to Hero MotoCorp. The automaker has stated that the exact quantum of increase will depend on the model and the market.
- Dec 23, 2021,
- Updated Dec 23, 2021 4:17 PM IST
Hero MotoCorp on Thursday announced an upward revision in the ex-showroom prices of its motorcycles and scooters, with effect from January 4, 2022. The price revision will be up to Rs 2,000, according to Hero MotoCorp. The automaker has stated that the exact quantum of increase will depend on the model and the market.
"The price revision has been necessitated to partially offset the impact of steadily increasing commodity prices," noted Hero MotorCorp in an official statement.
Hero MotoCorp is not the only vehicle maker to have announced a price hike in December. Both Maruti Suzuki and Tata Motors have announced that they would hike the prices of their vehicles from January 2021.
Maruti Suzuki had stated that the cost of vehicles has been adversely impacted due to COVID and hence the impact will be passed on to customers. The auto giant had increased prices in September, and before that in April and January.
"Over the past year, the cost of Company's vehicles continue to be adversely impacted due to increase in various input costs. Therefore, it has become imperative for the Company to pass on some impact of the above additional costs to customers through a price hike," Maruti had noted.
While Tata Motors had stated that an increase in price in the range of 2.5 per cent will be implemented across segments - M&HCV, I&LCV, SCV and Bus, basis individual model and variant of the vehicle
Tata Motors explained that the hike in the prices of its commercial vehicle range is due to increase in the prices of commodities such as steel, aluminium and other precious metals, in addition to higher costs of other raw materials.
On Thursday, Hero MotoCorp stock rose 1.88 per to Rs 2,393.00 on National Stock Exchange (NSE).
Also Read: Maruti Suzuki to hike prices again from January
Also Read: Tata Motors to hike price of its commercial vehicle range from January
Hero MotoCorp on Thursday announced an upward revision in the ex-showroom prices of its motorcycles and scooters, with effect from January 4, 2022. The price revision will be up to Rs 2,000, according to Hero MotoCorp. The automaker has stated that the exact quantum of increase will depend on the model and the market.
"The price revision has been necessitated to partially offset the impact of steadily increasing commodity prices," noted Hero MotorCorp in an official statement.
Hero MotoCorp is not the only vehicle maker to have announced a price hike in December. Both Maruti Suzuki and Tata Motors have announced that they would hike the prices of their vehicles from January 2021.
Maruti Suzuki had stated that the cost of vehicles has been adversely impacted due to COVID and hence the impact will be passed on to customers. The auto giant had increased prices in September, and before that in April and January.
"Over the past year, the cost of Company's vehicles continue to be adversely impacted due to increase in various input costs. Therefore, it has become imperative for the Company to pass on some impact of the above additional costs to customers through a price hike," Maruti had noted.
While Tata Motors had stated that an increase in price in the range of 2.5 per cent will be implemented across segments - M&HCV, I&LCV, SCV and Bus, basis individual model and variant of the vehicle
Tata Motors explained that the hike in the prices of its commercial vehicle range is due to increase in the prices of commodities such as steel, aluminium and other precious metals, in addition to higher costs of other raw materials.
On Thursday, Hero MotoCorp stock rose 1.88 per to Rs 2,393.00 on National Stock Exchange (NSE).
Also Read: Maruti Suzuki to hike prices again from January
Also Read: Tata Motors to hike price of its commercial vehicle range from January