Hero Motocorp To Hike Prices Of Motorcycles and Scooters From April 1

Hero Motocorp, one of India's largest two-wheeler manufacturers, has announced that the company will increase the prices of select models. The price hike will be around 2 percent, however, the exact quantum of increase can vary depending on the model of the motorcycle or the scooter. It is to be noted that these increased prices of the vehicles will be effective starting April 1, 2023.

The two-wheeler manufacturer said in a press release, "The price revision has been necessitated mainly due to cost increases on account of OBD 2 transition. Hero MotoCorp will continue to provide innovative financing solutions in order to cushion the impact on the customers."

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OBD-2 (onboard diagnostic device) is designed to continuously check a vehicle's emission levels and notify the owner if they go above or below acceptable limits. Instead of observing emission levels in a laboratory's ideal environment, the device will measure them in the real world. The mandate comes to contribute to the goal of achieving net-zero emissions in the coming future.

All two-wheelers sold in India starting on April 1, 2023, must be equipped with the OBD 2 system, according to an Indian government regulation. This is a part of the government's initiatives to lessen air pollution and enhance the nation's air quality.

To reduce the emissions by four-wheelers the OEMs have made similar changes in their vehicles. The brands in India have updated the vehicles of their engine with new RDE-compliant engines. These changes in the various models have also affected the price of the vehicles.

Hero Motocorp also said, "The rural markets have been witnessing an upswing in demand, thanks to the government schemes in the social sector and healthy agricultural outputs. This augurs well for the industry as the growth momentum is expected to lead into the upcoming festive season towards the latter half of the fiscal."