Hero Hikes Two-Wheeler Prices by 1.5%: New Prices to be Applicable from July 3, Step Taken Due to Input Cost

Hero MotoCorp, the two-wheeler manufacturer, has announced a price increase of approximately 1.5% for some models of its bikes and scooters. The new ex-showroom rates will come into effect from July 3.

The company has cited increased input costs as the main reason for the price hike. This marks the second price increase by Hero MotoCorp this year. In March, select models of motorcycles and scooters saw a 2% price increase due to the implementation of new emission norms.

Price hikes to vary across models

Hero MotoCorp has stated that the price hikes will vary across different models and markets. These price adjustments are part of the company's periodic price reviews. To mitigate the impact on customers, the company plans to introduce new finance offers.

Transition to BS6 norms

Hero MotoCorp is currently updating its vehicles to comply with the BS6 Phase-2 norms. As part of this transition, On-Board Diagnostics 2 (OBD 2) devices are being installed in the vehicles. These devices monitor carbon emission levels in real-time.

Hero Vida V1 Pro becomes costlier by Rs 6,000

Hero MotoCorp recently raised the price of its first electric scooter, Vida V1 Pro, by approximately Rs 6,000. The new prices came into effect today. After the hike, the electric scooter is available for Rs 1,45,900 with the FAME 2 subsidy and a portable charger. The subsidy under FAME-2 was reduced from June 1, and the company has been absorbing the burden since then.

6.7% Increase in Sales

Hero MotoCorp stated that the monsoon has been favorable in most parts of the country, and positive economic indicators are expected to drive demand and sales growth during the festive season.

In May 2023, the company's sales increased by 6.7% compared to the previous year, with a total of 519,474 vehicles sold during that period.