Upward Revision ALERT! Hero MotoCorp to increase prices of motorcycles, scooters from THIS date; Know the rate hike details
The price hike has been necessitated to partially offset the impact of a continuous increase in commodity prices.
Two-wheeler company Hero MotoCorp will make an upward revision in the ex-showroom prices of its motorcycles and scooters, with effect from July 1, 2021.
The price hike has been necessitated to partially offset the impact of a continuous increase in commodity prices. The company continues to drive a cost savings program aggressively, in order to minimise the impact on the customer.
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The price hike across the range of motorcycles and scooters will be up to Rs 3,000 and the exact quantum of the increase will depend on the basis of the model and the specific market.
The two-wheeler company provides customers with a range of two-wheelers that ensure both style and comfort.
Hero MotoCorp sold 183,044 units of two-wheelers in the month of May 2021. Sales in the month of May’21 were adversely impacted due to the closure of plant operations in view of the escalation in the spread of the Coronavirus in the country.
In keeping with its commitment to ensuring the safety and the welfare of its people, Hero MotoCorp proactively halted operations at all of its manufacturing facilities across the country on April 22. Three of the plants - located in Gurugram, Haridwar and Dharuhera - resumed single-shift operations on May 17, followed by the other three located in Neemrana, Halol and Chittoor on May 24.
The company had mentioned earlier that ”With the vaccination drive gaining pace and a sharp decline in the number of Covid-positive cases, markets across the country are expected to open up gradually. This will aid in the swift recovery of businesses in the coming weeks.”
Considering this unprecedented situation, the sales volume of May’21 is not comparable with the corresponding month of the previous year (May’20) and sequential months of this year. The Company continues to monitor the situation closely and will move to double-shift production gradually.
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