Once Hero rolls out its price hike, almost every other 2-wheeler brand would likely do the same
Leading 2-wheeler manufacturer Hero MotoCorp will hike the asking price of its products on 1st July 2021 citing increasing input costs.
Hero released a statement saying the price hike has been “necessitated to partially offset the impact of continuous increase in commodity prices.”
The price hike, Hero says, will be up to Rs. 3000/- across its range of motorcycles and scooters and the exact quantum of the increase will depend upon the model and the specific market.
Hero also added that it continues to drive its cost savings programme aggressively in order to minimise the impact on the customer.
Only a couple of days ago, it came to light that India’s top carmaker, Maruti Suzuki, has planned for a third price hike this year and that the revision will be implemented in the second quarter of the 2021-22 fiscal year.
With market leaders of both 2- and 4-wheeler segments gearing up to roll-out a price hike, the stage has been set for the industry to witness a third wave of price increase in the July to September period this year.