Hero MotoCorp's second price hike this year, the two-wheeler giant iterated that the increment was "necessitated to partially offset the steadily growing overall cost inflation, including commodity prices."
Prices across the Hero MotoCorp range will see an upward revision of Rs. 3,000
Hero MotoCorp has announced that the manufacturer will be hiking ex-showroom prices across its motorcycles and scooters from July 1, 2022. The company said the price revision will be up to ₹ 3,000. However, the exact quantum of increase will be subject to the specific model and market. The two-wheeler giant iterated that the price hike was "necessitated to partially offset the steadily growing overall cost inflation, including commodity prices."
The quantum of the price hike will depend on the model and the market, Hero MotoCorp said in its announcement
This isn't the first price hike that Hero MotoCorp has announced in 2022. The manufacturer previously increased prices in March this year by up to ₹ 2,000 across its motorcycle and scooter range. With the pandemic, rising fuel prices, semiconductor chip shortage, and the Russia-Ukraine in the mix, prices of raw materials have seen a massive spike, making it difficult for manufacturers to operate at sustainable levels. Not just Hero but other vehicle makers - both passenger and two-wheeler - have been increasing prices at regular intervals across the auto sector.
While Hero battles temporary inflation with the price hike, the company is gearing up to introduce the Vida electric brand later in the year. Originally slated to be unveiled with much fanfare on July 1, 2022, the arrival was delayed due to the semiconductor chip shortage. Instead, the Vida electric brand will now arrive towards the end of the year, which also pushes the launch of the brand's first all-electric scooter. More details on the price hike across the model range will be available early next month.