Hero MotoCorp To Hike Prices From October

Hero MotoCorp has announced that it will be increasing the price of its models in India from next month. Effective from October 3, 2018, prices of all Hero motorcycles and scooters will be hiked by up to Rs. 900, however, Hero says that the exact quantum of the increase will vary, based on the model and the specific market. Talking about the reason for the price hike, Hero MotoCorp said that 'the revision has been necessitated by the increasing commodity costs and currency depreciation.'

This is not the first time that Hero MotoCorp has announced a price hike for its motorcycles and scooters this year. Earlier in April 2018, the two-wheeler manufactures announced an upward revision in prices of its products by up to Rs. 625, in a regulatory filing. Back then, the two-wheeler maker has stated that prices have been hiked to partially offset the rising input costs, including the price of commodities.

Hero MotoCorp currently offers a wide range of two-wheelers in India ranging from Rs. 37,625 going up to Rs. 110,500 (ex-showroom, Delhi). In August 2018, Hero MotoCorp reported sold 685,047 units of motorcycles and scooter, witnessing a growth of just one per cent, as compared to 678,797 units sold during the same month last year. The same month, the two-wheeler manufacturer also officially commenced the sale of its new naked street bike, the Hero Xtreme 200R.