MUMBAI, Jun 23 (NNN-PTI) – India’s Hero MotoCorp, decided to raise its motorcycle and scooter prices from July 1, to partially offset the impact of the continuous increase in commodity prices, the company said, in its filing with the Bombay Stock Exchange.
The world’s largest two-wheeler manufacturer will hike price across its two-wheeler range by up to 40 U.S. dollars, and the exact quantum of the increase will depend on the basis of the model and the specific market, the company said in its filing.
Indian automobile companies decided to raise vehicle prices for the third time, in the current calendar year, with the country’s largest passenger car manufacturer, Maruti Suzuki, on Monday, announcing to raise car prices in the July-Sept quarter.
In Jan and Apr, Indian auto companies raised vehicle prices, to overcome the rising input costs.
“Over the past year, the cost of the company’s vehicles continue to be adversely impacted, due to increase in various input costs. Hence, it has become imperative for the company to pass on some impact of the additional cost to customers through a price rise,” said Maruti Suzuki, the Indian subsidiary of Japanese auto major Suzuki.– NNN-PTI
