Hero MotoCorp is the latest two-wheeler manufacturer to announce a price hike on its products in the Indian market. The company has announced that prices of all of its scooter and motorcycle offerings will be increased by up to Rs 3,000 from July 1 onwards to partially offset the steadily growing overall cost inflation, including commodity prices.
In a regulatory filing, the company said, “The exact quantum of increase will be subject to the specific model and market. The price revision has been necessitated to partially offset the steadily growing overall cost inflation, including commodity prices”.
As of now, Hero MotoCorp’s portfolio consists of Pleasure+, Maestro Edge 125 and Destini 125 scooters, along with HF 100, HF Deluxe, Splendor+, Super Splendor, Splendor iSmart, Glamour, Passion Pro, Xpulse 200, Xtreme 160R and Xtreme 200S motorcycles, ranging from Rs 51,450 to Rs 1.32 lakh (ex-showroom, New Delhi).
Hero MotoCorp is currently the largest two-wheeler manufacturer in the Indian market, as far as sales are concerned. The company managed to sell over 4.66 lakh two wheelers in the country in the month of May 2022, occupying a market share of over 37%. In 2020, Hero had also entered into an agreement with Harley Davidson to sell and service motorcycles of the American bran in India.