Hero MotoCorp says that it is taking this step to partially offset the impact of hike in commodity prices.
Hero Motocorp
If you are planning to buy Hero bikes and scooters, then you have a golden opportunity. Because now you can save 3000 rupees by buying the company’s bikes and scooters. In fact, two-wheeler company Hero MotoCorp has announced to increase the price of its vehicles by up to Rs 3,000 from July 1. The company said that due to the high cost of the material, it has to take this step.
The company said in a statement that from July 1, the showroom prices of its motorcycles and scooters will increase. This increase in prices will be up to Rs 3,000. The company said that the price hike will be based on the model and the market.
so the prices will increase
Hero MotoCorp says that it is taking this step to partially offset the impact of hike in commodity prices. The statement further said that the company is aggressively pursuing the cost savings program to minimize the impact on the customer. Currently, there is no indication on the exact prices but it is expected to be across all Hero scooters and motorcycles.
their price will also increase
Apart from Hero MotoCorp, the country’s largest car company Maruti Suzuki India is also going to increase the prices from July 1. The company has also cited increase in raw material prices as the reason for the decision. MSI executive director (sales marketing) Shashank Srivastava said the prices of steel and some precious metals, such as rhodium and palladium, have increased significantly.
Rise in raw material prices
The price of steel has increased from Rs 38 per kg to Rs 68 per kg, while that of rhodium has increased from Rs 19,000 per gram to around Rs 66,000 per gram, which has affected the cost of production, he said. Earlier this year, most manufacturers had already hiked prices to offset the increase in raw material cost as well as shortfall in sales due to the pandemic.
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