Hero MotoCorp to increase prices by up to Rs 2,500 from April 1

Hero MotoCorp on Tuesday said it will increase ex-showroom prices of motorcycles and scooters from next month, citing the impact of increased commodity costs. 

"Will make an upward revision in the ex-showroom prices of its motorcycles and scooters, with effect from April 1, 2021," the company said in an exchange filing. 

The price increase across the range of two-wheelers will be up to Rs 2,500, and the exact quantum of the increase will vary on the basis of the model and the specific market. 

"The price hike has been necessitated to partially offset the impact of increased commodity costs," it said, adding that the company has accelerated its cost savings program to ensure minimal impact on the customer.

The country's largest two-wheeler maker reported a 1.45 per cent increase in total sales at 505,467 units in February. 

Total motorcycle sales stood at 463,723 units last month, down 3.25 per cent.

Total scooter sales, however, increased over two fold to 41,744 units as compared with 18,932 units in the year-ago month.

Exports last month stood at 21,034 units as compared with 18,046 units in the year-ago period.