Following all major car companies hiking prices from January next year, Hero MotoCorp has become the first two-wheeler company to make similar move. The two-wheeler market leader in India has decided to increase prices of its motorcycles across models by about Rs 400 per model on an average to partially offset rising input costs.
"The price hike translates to about Rs 400 per model. The exact quantum of the increase will vary, basis the model and the specific market," Hero MotoCorp said in a statement.
The company sells a range of motorcycles starting from entry level HF Deluxe price at Rs 42,432 onwards to Karizma ZMR tagged at around Rs 1.10 lakh. The company is not planning to hike the prices of its scooter line-up, though.
The Indian two-wheeler manufacturer is the latest addition in the list of automobile firms - including Maruti Suzuki India, Hyundai, Tata Motors, Nissan, Mahindra & Mahindra, Volkswagen, Ford, Toyota, Honda Cars India, Skoda and Isuzu - to announce price hikes from the beginning of the next year.
Automobile firms usually offer discounts in December to clear their inventories before the ends, as customers usually postpone their plans to buy a new vehicle till the next year. This year too, dealerships came up with offers, in the range of Rs 25,000 and Rs 8.85 lakh, including cash discounts and exchange bonuses on select models.
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