New Cars and Bikes in India

Hero MotoCorp To Increase Prices Across Two-Wheeler Range From January 2021

language dropdown

Hero MotoCorp will be increasing prices by up to Rs. 1,500 across its line-up from January 1, 2021, becoming the first two-wheeler maker to announce a price hike for the new year.

The price hike has been attributed to the rise in commodity costs expand View Photos
The price hike has been attributed to the rise in commodity costs

Highlights

  • The rise in cost of raw materials has been attributed to the price hike
  • The price hike will affect all models in Hero MotoCorp's line-up
  • Hero showed quick recovery post lockdown with strong festive growth

The world's largest manufacturer of two-wheelers, Hero MotoCorp has announced that it will increase the prices of its product range by up to ₹ 1,500 with effect from January 1, 2021. The announcement comes a day after automaker Mahindra & Mahindra announced it will be hiking prices across passenger and commercial vehicles. The two-wheeler company further stated that the decision to hike prices has been taken to partially offset the impact of the commodity costs. Hero becomes the first two-wheeler maker to announce a price hike for the new year.

Also Read: Two-Wheeler Sales November 2020: Hero MotoCorp Registers A Growth Of 14 Per Cent

In a regulatory filing, Hero MotoCorp said, "In order to partially offset the impact of the commodity costs, we will be increasing the prices of our products by up to Rs 1,500, with effect from January 1, 2021. The price hike will vary across models, and the exact quantum will be communicated to our dealers in due course."

kbgequ28

The price hike will vary depending on the model with the maximum hike up to ₹ 1,500

The company further added, "There has been a steady rise in commodity costs across the spectrum, including steel, aluminium, plastics, and precious metals. We have already accelerated our savings programme under the Leap-2 umbrella, and will continue to work on mitigating the impact, with the objective to reduce the burden on the customers and protect our margins."

Newsbeep

Cyclical revisions are common around the new year amidst automakers for two-wheeler and four-wheelers. With respect to quarterly results, Hero MotoCorp reported a standalone net profit of ₹ 953.45 crore, an 8.99 per cent year-on-year increase when compared to ₹ 874.80 crore in the corresponding quarter last year. The revenue from operations stood at ₹ 9367.34 crore, registering a growth of 23.7 per cent from ₹ 7570.70 crore from over a year ago.

Also Read: Hero MotoCorp Retails Over 14 Lakh Two-Wheeler During This Festive Season

0 Comments

Hero MotoCorp sold 18.22 lakh units between July and September 2020, as demand recovered post the lockdown across the country. The two-wheeler maker also rolled out a number of offers and special edition models to revive sales further and registered its best-ever sales of over 8 lakh units during the festive period.

For the latest auto news and reviews, follow carandbike.com on Twitter, Facebook, and subscribe to our YouTube channel.

You might be interested in

Research on Hero Bikes

  • Hero Super Splendor Meter Console
    Hero Super Splendor Meter Console
  • Hero Super Splendor Headlamp
    Hero Super Splendor Headlamp
  • Hero Super Splendor Tyre
    Hero Super Splendor Tyre
  • 2020 Hero Splender Plus Battery
    2020 Hero Splender Plus Battery
  • 2020 Hero Splender Plus Engine
    2020 Hero Splender Plus Engine
  • 2020 Hero Splender Plus I3s
    2020 Hero Splender Plus I3s
  • 17
    17
  • 18
    18
  • 15
    15
  • Hero Xtreme 160r 130mm Wide Radial Rear Tyre
    Hero Xtreme 160r 130mm Wide Radial Rear Tyre
  • Hero Xtreme 160r Compact Sporty Exhaust
    Hero Xtreme 160r Compact Sporty Exhaust
  • Hero Xtreme 160r Engineered Ergonomics
    Hero Xtreme 160r Engineered Ergonomics
  • High Tensile Double Cradle Frame For Longer Life
    High Tensile Double Cradle Frame For Longer Life
  • Long Seat
    Long Seat
  • Self Start
    Self Start
  • Integrated Braking System
    Integrated Braking System
  • Led Boot Lamp
    Led Boot Lamp
  • Mobile Charging Port  Utility Box
    Mobile Charging Port Utility Box
  • Engine
    Engine
  • Headlamps
    Headlamps
  • Tyres
    Tyres
  • Hero Xpulse 200 Handbar Cover
    Hero Xpulse 200 Handbar Cover
  • Hero Xpulse 200 Engine View
    Hero Xpulse 200 Engine View
  • Hero Xpulse 200 Indicator
    Hero Xpulse 200 Indicator
  • High Tensile Double Cradle Frame For Longer Life
    High Tensile Double Cradle Frame For Longer Life
  • Long Seat
    Long Seat
  • Self Start
    Self Start
  • 2018 Hero Hf Dawn 827x510 51516346973
    2018 Hero Hf Dawn 827x510 51516346973
  • 20180105105955 Color Main 277
    20180105105955 Color Main 277
  • 20180105105928 Color Main 430
    20180105105928 Color Main 430