Hero MotoCorp has announced that it will increase the pre-showroom prices of its motorcycles and scooters effective July 3, 2023. The world’s largest maker of two-wheelers by sales said the price increase would be about 1.5 percent, and specific prices would rise by about 1.5 percent. Increases will depend on model and market. The last time Hero MotoCorp raised the prices of its two-wheelers was in April this year, when it was transitioning to the OBD2 standard.
In a statement, Hero MotoCorp said the price increase for motorcycles and scooters was part of a price review. The company further stated that price fluctuations are based on factors such as price positioning, input costs and business needs. The two-wheeler giant aims to offset the price hikes by offering more innovative financing plans to customers.
Also read: Hero Xtreme 160 4V first ride review: Thoughtful upgrade, impressive
The price increase came ahead of the festive season, when the country’s buying cycle picks up. Hero MotoCorp was also optimistic about the arrival of the monsoon in most parts of India and more positive economic indicators, which bodes well for demand, especially in rural markets. The company said it expects industry sales to pick up in the upcoming festive period.
Most recently, Hero MotoCorp launched the Passion Plus in the entry-level commuter segment. At the same time, the company unveiled the Xtreme 160 4V as its new high-end commuter motorcycle, showcasing a new high-end product strategy that will stand out. The two-wheeler maker expects to launch even more motorcycles — updated and all-new — this year. These include the much-anticipated Karizma XMR 210, while a premium 125 cc commuter bike isn’t ruled out. The Hero-built Harley-Davidson X440 will be the first to hit the market, with an expected release date of July 3, 2023.
First published date: June 30, 2023 at 19:54 PM IST