Hero price hike is said to become effective from January 2021 when the costliest Xpulse may get a hike of around ₹1500…
It is again the end of the year – in fact the decade and price rise statements have started to come in. After few other makers, Hero MotoCorp has released an official press note announcing a price increase on its models.
The company says that consistent rise in commodity prices which include steel, aluminum, plastic and other precious metals is one of the major reason of this upcoming price increment. Hero further shares that it is already working on a Leap-2 program which is probably aimed at improving savings as well as retaining margins.
The quantum of price hike is suggested at upto Rs 1500 depending upon the different models and will be shared with dealers in the coming days. This hike is said to come into effect from 1st January 2021. Possibility is that the costlier motorcycles like the Xtreme and Xpulse may get price hikes of around Rs 1500 and the lower prices models may get less increments.
Actually, December is a month when a lot of buyers postpone buying decision to the new year which impact company’s revenues. To overcome this problem, makers have come up with this strategy of luring customers with offers and at the same time threatening them with price hikes (well in advance in the month). This pushes a lot of fence sitters to eventually give up on the buy.
But frankly, if you are a person who likes to keep motorcycles and scooters for longer periods, it hardly makes a lot of difference whether you buy it in December or January-March. In fact, you may end up saving more than what you may lose when you resell your 2-wheeler.