Frequent price hikes on motorcycles and scooters has been an inconsolable practice that makers have adopted in the past few months…
The last few months have not been very well for the 2-wheeler business as sales have seen a continuous slump. And now with the second wave of COVID-19 lurking around, things may get even worse with tougher restrictions being enforced by the Government.
Amid all this, Hero MotoCorp has announced a price hike on its motorcycles and scooters from April onwards. This comes on the backdrop of multiple unannounced price hikes that most of the makers have been doing in the recent past.
According to the India’s largest manufacturer of 2-wheelers, which celebrated 100 million units production milestone in January this year, the quantum of price hike would be upto Rs 2500 and it will vary based on the models and specific markets.
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Hero says that it has been compelled for this price revision due to the increased commodity costs. Almost everything has become costlier in these times with petrol and diesel being sold at unprecedented levels, despite crude and dollar prices hovering at very manageable levels! Hero added that it has accelerated its cost savings program so that a minimum hike is passed onto the customer.