Mumbai: India’s largest two-wheeler manufacturer, Hero MotoCorp has announced a price hike for select models. The new updated price will be in effective from October 3, 2023.
The company informed that the price increase will be around 1% and the exact quantum of increase will vary by specific models and markets. Hero MotoCorp, India’s largest two-wheeler manufacturer, raised prices for some of its models by 1.5% in July 2023. This is the second price hike the company has announced this year. The company has attributed the price hike to rising input costs and inflation.
Earlier in the month, Hero MotoCorp said it will invest an additional Rs 550 crore in Ather Energy.
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Hero MotoCorp reported a 6% increase in total sales in August 2023, selling 488,717 units. Domestic sales grew by 5% to 472,947 units, while exports increased by 32% to 15,770 units.
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