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As per an announcement made by the world’s largest two-wheeler maker, Hero MotoCorp, the prices of the entire model range will be revised by up to INR 625, with immediate effect. The disclosed reason by the bike maker behind increasing vehicles prices is partially off-set the rising input costs, including the prices of commodities. Also, the hike in prices of models will vary depending on the model and its specific market.
The decision of rising price was taken by Hero post weeks after the manufacturers such as TVS Motor Company and Bajaj Auto announced the revision in their entire lineup prices. For your reminisce, it is the second time this year when the Hero is updating product range pricing. On an average every Hero model has witnessed the price hike of INR 400 per model in January 2018, owing to the same cause of the increase in input costs.
Read also: Bikes and Scooters to See Price Hike by April 2018, Know the Reason
However, the price hike did not affect the sales and garners steady growth that strengthens the bikemaker for this further enhancement in prices. As per the report of the Society of Indian Automobile Manufacturers (SIAM), two-wheeler industry observed the growth of 15 percent during the last fiscal (2017-18) to cross 20 million units overall. This year too, it will continue to keep rising as the vehicles now got the mandatory features such as ABS and CBS.
As like the Hero MotoCorp, the other prominent bike makers like Honda, Royal Enfield and Yamaha could also announce the hike in the price of their product range. At the same time, we can also see the arrival of brand’s new 200cc flagship offering, the Xtreme 200R that is subjected to hit the market anytime next month.
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