Hero Motocorp To Hike Prices Of Select Motorcycles And Scooters From July

Hero MotoCorp Ltd., one of India’s leading two-wheeler manufacturers, has announced a price increase for select motorcycles and scooters, effective from July 1, 2024.

What Happened: The company revealed on Monday that the ex-showroom prices of certain models would be revised upwards by up to ₹1,500. The exact amount of the increase, however, would depend on the specific model and market.

The two-wheeler manufacturer stated that this price revision is a necessary measure to partially offset the impact of higher input costs. The company’s press release did not specify which models would be subject to the price hike.

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Why It Matters: This move by Hero MotoCorp comes in the wake of similar announcements by other vehicle manufacturers. For instance, Tata Motors had last week announced a price surge for its commercial vehicles, effective from July 2024. The price hike, up to 2%, was to be applied across the entire range of commercial vehicles, varying according to individual models and variants. Tata Motors cited rising commodity prices as the reason for the increase.

Price Action: Hero Motocorp’s share price traded mostly flat after the announcement. The stock was up 0.055% to trade at ₹5,455.00 at the time of writing on Monday.

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