Hero MotoCorp announced on Friday that it will raise the pricing of its bikes and scooters by about 1.5% beginning July 3, citing a variety of factors, including an increase in input costs. The company, which raised rates by about 2% in April of this year, stated that the exact magnitude of its newest rise would vary depending on certain models and markets.
“The upward revision of motorcycle and scooter prices is part of the price review that the company conducts on a regular basis, keeping in mind various factors such as price positioning, input costs, and business imperatives,” it added. Hero MotoCorp has stated that it will continue to offer innovative financing options in order to lessen the impact on customers.
“The onset of monsoon in most parts of the country, as well as overall economic indicators, bode well for a growth in demand, and industry volumes are expected to pick up, leading into the upcoming festive season,” the report noted.
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