Hero MotoCorp on Monday said it will increase the price of its motorcycles and scooters from January, 1, 2020.
The company added that the prices of its products will be raised up to Rs 2,000. “The price increase across its range of two-wheelers will be up to Rs 2,000. But the exact amount of increase will vary on the basis of the model and the specific market,” the company said.
Auto manufactures have increased prices owing to the transition cost for migrating to the BS-VI platform. The government has made it mandatory for all vehicles sold from April 1, 2020, to be BS-VI compliant.
Vehicle manufacturers across categories announced price hikes in December to attract customers to showrooms and improve their retail sales.
Last week, Maruti Suzuki, the country’s largest passenger vehicles manufacturer, announced it will increase prices of its cars from January. The company did not specify the date of implementation or the quantum of increase in prices. “Last year, cost of the company’s vehicles have been impacted adversely due to increase in various input costs. Hence, it has become imperative for the firm to pass on some impact of the additional cost to customers through a price increase across various models in January 2020. This price increase will vary for different models,” Maruti had said.
Other companies like Hyundai Motor India, Tata Motors and Mahindra and Mahindra are likely to follow suit.