Hero MotoCorp increases two-wheeler prices [Sep 18, 2021]
Hero MotoCorp will make an upward revision in the ex-showroom prices of its motorcycles and scooters, with effect from September 20. The price hike is across the range of motorcycles and scooters and will be up to Rs 3000.
The company in a press release said that the hike has been necessitated to offset the impact of steadily increasing commodity prices. It has also mentioned that the exact quantum of increase will depend on the model and the market. The country's largest automaker Maruti Suzuki also increased its prices in September right before the festive season which begun with Ganesh Chaturthi on September 10.Honda Cars,Tata Motors , Mahindra & Mahindra, Renault, and Toyota have also raised prices during July-August period.
Commodity prices are expected to remain at multi-year highs in the first half of FY22 (resulting in multi-year high average in FY22), before softening in the second half of the year, as per a report shared by rating and market intelligence company ICRA.