Hero MotoCorp to Increase Prices of Motorcycles and Scooters from Next Week

Hero MotoCorp, one of the country’s largest two-wheeler companies, has announced an increase in the prices of its motorcycles and scooters from July 3. The price of the company’s two-wheelers will increase by about 1.5 percent. In April this year too, Hero MotoCorp had increased the prices of its two-wheelers.

The company said that behind this increase in the prices of motorcycles and scooters, the pressure of input cost and business related reasons are behind this increase. The company expects economic indicators to strengthen with monsoon being normal in most parts of the country. This can also increase the demand for vehicles. Hero MotoCorp said that the upcoming festive season is expected to boost volumes for the industry. Recently, the company launched the Passion Plus in the low-cost segment of the motorcycle. Along with this, the company has introduced Xtreme 160 4V in the premium segment. Prices for the Xtreme 160R 4V start at Rs 1,27,300 (ex-showroom). It will be available in three variants and three colours.

This year the company is planning to launch some new motorcycles. These may also include Karizma XMR 210. Hero MotoCorp plans to increase its presence in the powerful motorcycles segment. The company wants to strengthen its position in the category above 160 cc. It is also focusing on launching new products every quarter.

Recently the company’s CEO, Niranjan Gupta had told that Hero MotoCorp will launch at least one new product every quarter. The company has tied up with Harley-Davidson to develop premium products. Hero MotoCorp will compete with Baja-Triumph in this segment. Along with this, Hero MotoCorp also plans to bring updated versions of its existing products. The company’s sales last month increased by seven percent to 5,19,474 units. It was 4,86,704 units in the same period last year. The company’s motorcycle sales increased to 4,89,336 units. It was 4,52,246 units in the same month last year. However, its scooters sales declined to 30,138 units as against 34,458 units in the same period last year.

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