Hero MotoCorp, the largest manufacturer of two-wheelers in India, has announced that starting from July 1, 2023, it will raise the prices of its motorcycles and scooters by approximately 1.5%. This increase is primarily due to the rising input costs associated with raw materials, logistics, and freight.
The extent of the price increase will vary depending on the model and market, but on average, it is anticipated to be around Rs. 1,500. The price hike will apply to all Hero MotoCorp dealerships across India.
To mitigate the impact of the price hike on customers, the company has stated its commitment to offering innovative financing solutions. Additionally, customers who book their vehicles before July 1, 2023, will receive a special discount of Rs. 1,000 on select models.
This marks the third time that Hero MotoCorp has raised prices during the current fiscal year, following previous increases in December 2022 and April 2023.
While the price hike is expected to affect the demand for two-wheelers in India, Hero MotoCorp remains optimistic about the continued strong demand for its products in the upcoming months.
