- By Divanshi Sharma
- Sat, 30 Sep 2023 11:35 AM (IST)
- Source:JND
Hero MotoCorp, on Friday announced its plans to hike prices of some of their motorcycle and scooter models from Tuesday, October 3. The average increase in price will be around one per cent but the specifics will vary from model to model. This announcement has been made as a result of the company's routine evaluation of pricing, market conditions, and competitive positioning. Hero Motocorp is increasing the prices of its motorcycles and scooters for the second time in three months. They had increased prices of select motorcycles and scooters by 1.5 per cent on July 3.
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While Hero MotoCorp has not yet disclosed which specific models will be affected by this price hike, the decision comes at the time of the ongoing festive season in India. The company's move to hike prices will be implemented with the aim to strike a balance between maintaining competitiveness and addressing factors like input costs, which have recently been fluctuating.
Hero MotoCorp, India’s largest two-wheeler manufacturer, has a product portfolio of a range of motorcycles and scooters; commuter and performance motorcycles with engine capacities ranging from 100 cc to 210 cc and scooters primarily equipped with 125 cc engines. However, Hero MotoCorp hasn’t yet announced which models will be affected by this price hike.
The decision to increase prices comes at the same time when the company is focusing on expanding its market share and ensuring sustained business growth through a series of upcoming product launches in the coming quarters.
Contributing to this goal, Hero MotoCorp recently brought back the iconic Karizma brand name as the new Karizma XMR 210 motorcycle. Launched in late august, Karizma was initially offered at an introductory price of Rs 1.73 lakh (ex-showroom) and now the prices of the motorcycle will see an increase from October 1st, when the introductory offer expires. From October 1, the Karizma XMR 210 will be available at a price of 1.80 lakh (ex-showroom).
