Two-wheeler company Hero MotoCorp has announced to increase the prices 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 Coronavirus Pandemic has had a long-lasting impact on the automobile spectrum. Auto manufacturers are increasing the prices of their vehicles. Hero MotoCorp has also joined this episode. Two-wheeler company Hero MotoCorp has announced to increase the prices 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. The company has said that it is taking this step to partially offset the impact of the 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.
These companies also announced an increase
Since the second wave of COVID-19 hit the country, the trend of price hike is increasing again. Maruti Suzuki has recently announced a price hike, while both BMW and Tata Motors have increased the prices. Mahindra is also considering increasing the prices.
At the beginning of the new year, most manufacturers had already raised prices to offset the increase in raw material cost as well as the shortfall in sales due to the pandemic.
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