Hero MotoCorp announces price hike of up to Rs 1,500 from Dec 1

Two-wheeler major Hero MotoCorp on Friday announced an increase in the ex-showroom prices of its motorcycles and scooters, effective from December 1, 2022.

"The price increase will be up to Rs 1,500 and the exact quantum of increase will vary by specific models and markets," said the company in a stock exchange filing.

“The upward revision of the prices of our motorcycles and scooters has been necessitated due to overall inflationary costs. We will continue to provide innovative financing solutions in order to cushion the impact on the customers. We have also put in place accelerated savings programs, which will help us to offset any further cost impact, and drive improvement in margins. Moving forward the economic indicators are favorable to a growth in demand, and we expect industry volumes to pick up in coming quarters," said Niranjan Gupta, Chief Financial Officer (CFO), Hero MotoCorp.