Hero MotoCorp announces price hike for motorcycles and scooters

Hero MotoCorp Hikes Prices: India's leading two-wheeler manufacturer, Hero MotoCorp, announced a price increase for select motorcycles and scooters, effective July 1, 2024.

Reason for Hike: The company cited rising input costs as the main reason for the price revision. This is a trend seen across the auto industry in 2024.

Price Increase Range: The price hike will be up to Rs. 1,500 for various models. The exact quantum of the increase will vary based on the specific model and market.

Affected Models: Hero MotoCorp hasn't revealed the specific models that will see a price increase. It's likely to encompass a range of motorcycles and scooters across their portfolio.

Limited Impact: The price increase is capped at Rs. 1,500, aiming to partially offset the rising input costs without significantly impacting customer affordability.

Previous Price Hike: This follows a similar price increase implemented by Hero MotoCorp in October 2023 to address inflation and market competitiveness.

Market Response: The price hike announcement has been covered by various news outlets like Business Standard, Livemint, and Carandbike. Consumer response will likely depend on the specific models affected and the overall market conditions.

Hero MotoCorp Shares:  Despite the price hike announcement, Hero MotoCorp's shares closed 1.43% higher on the day of the announcement, suggesting investor confidence in the company's long-term prospects.