The prices of Hero Motorcycles and scooters would now go up by up to INR 3000
Hero Motocorp has announced upward revisions in the prices of its models from July. The various Hero motorcycles and scooters now get price-hikes of up to Rs 3000, with effect from July 1, 2021. The manufacturer has cited the increase in commodity prices and manufacturing costs as the reasons for the price hike. Hero spokesperson also mentioned that the manufacturer is doing every bit possible to keep the hike in check and minimize its impact on the end customer.
Hero Motocorp currently has a wide-set portfolio in India, comprising motorcycles and scooters. Motorcycle portfolio includes the Hero Splendor, HF Deluxe, Passion, Xtreme and XPulse. The Destini remains the sole offering in the scooter segment. The exact quantum of increase in pricing is dependent on the model and market.
It should also be mentioned here that this is the third consecutive price hike from the manufacturer this year. Hero Motocorp had announced a Rs 1500 hike in January and another Rs 2500 in April. The sales for Hero, however, have been quite reassuring even with these revisions in place. The manufacturer had sold 1.83 lakh units in May 2021 and recorded 39.2% growth in revenue in Q4, 2021.