Hero Motocorp to hike prices of motorcycle, scooter from December 1; check details here
This is the fourth time in 2022 that Hero Motocorp has increased the prices of its vehicles, which will affect models like Hero Splendor, Glamour, HF Deluxe, HF 100 and others
Hero Motocorp has announced to increase the prices of its motorcycles and scooters from December 1, 2022. The Indian manufacturer has announced the price hike of its two-wheelers by up to Rs 1,500. Though this figure can change depending on the market and the model of the vehicle. The increased prices have been credited to the overall inflationary costs forcing the manufacturers to make the necessary changes to manage the cost.
Announcing this here today, Mr. Niranjan Gupta, Chief Financial Officer (CFO) Hero MotoCorp, said, “The upward revision of the prices of our motorcycles and scooters has been necessitated due to overall inflationary costs. We will continue to provide innovative financing solutions in order to cushion the impact on the customers. We have also put in place accelerated savings programs, which will help us to offset any further cost impact, and drive improvement in margins. Moving forward, the economic indicators are favorable to a growth in demand, and we expect industry volumes to pick up in coming quarters.”
It is to be noted that this is the fourth time the automaker has increased the prices of its vehicles in 2022. The two-wheeler juggernaut had already increased prices by as much as 1,000 in September, claiming growing input costs as the cause. Starting with the HF 100, HF Deluxe, Splendor+, and Glamour, Hero MotoCorp's two-wheeler lineup extends up to the XPulse 200 4V in the motorbike category. While in the scooter sector saw the price hikes of Pleasure+ 110 and Maestro Edge 110, and everything in between up to the Destini 125.
Apart from the ICE vehicles, Hero is also now in the EV market. The company has started a new EV brand with the name Vida Electric. The brand now has two models in India with the name Vida V1 with a starting price of Rs 1.45 lakh (ex-showroom) and up to Rs 1.59 lakh (ex-showroom). The scooter gets two variants, namely, Vida V1 Pro and Vida V1 Plus.