If you’re planning to buy a Hero motorcycle or scooter, get ready to pay more starting April 1st. India’s largest two-wheeler maker has announced that the prices of its full range of models will go up starting next month. Hero MotoCorp has decided to increase prices by 2%. The decision to raise prices on its models comes as the industry prepares to refresh its lineup in line with new emissions standards known as Bharat Stage 6 Phase 2, which will come into force on April 1.
The new BS6 Phase-2 and RDE fuel regulations will be mandatory for all vehicles. Hero MotoCorp said in an exchange filing that it was raising prices to offset higher production costs to meet stricter emissions standards. The price adjustment became apparent due to increased costs including the OBD 2 (On Board Diagnostics) transition.
From April 1, all vehicles will be required to be equipped with OBD 2 devices to monitor emissions levels in real time. OBD 2 devices will monitor vehicle components such as catalytic converters and oxygen sensors to control emission levels.
Hero MotoCorp said customers would bear little burden of price increases. Hero MotoCorp has not revealed which models will be updated with the new RDE engine to meet emissions standards. Officials also don’t know which models will be affected by the price increase. The two-wheeler maker said it would revise pre-showroom prices for some motorcycles and scooters. The exact price increase will vary by model and market.
Several other automakers and two-wheeler makers have announced similar price hikes for their models. All of these hikes are necessary because of the rising input costs of adding new engines that are RDE compliant and compatible with new emissions standards. Companies that have announced similar price hikes include Kia India and Tata Motors.
First published date: Mar 23, 2023 at 09:33 AM CST