Come January, Hero Motocorp and Hyundai Motor India will be increasing the prices of their products in India. Though the exact quantum will depend on a variety of factors, Hero MotoCorp expects a maximum hike up to Rs 2,000.
Hyundai Motor has announced price hikes across models effective from January 2020 on the back of higher input and material costs. The extent of price increase may vary for different models and fuel types.
The company has already announced that it has begun conducting a feasibility study to bring fuel cell electric vehicles (FCEVs) to the Indian market. This move could see the introduction of the Hyundai Nexo FCEV in India and enhance the Korean brand’s green credentials here. The Hyundai Nexo has been showcased in India, at the 2018 India-Korea Business Summit, in New Delhi.
Hero MotoCorp too will revise the ex-showroom prices of its motorcycles and scooters, with effect from January 1, 2020. Though the exact quantum will vary, prices are expected to increase by up to Rs 2000.
The company had earlier this year rolled out its first BS-VI compliant motorcycle – the new Splendor iSmart with a starting price of Rs 64,900 (ex-showroom, Delhi). Hero MotoCorp became the first two-wheeler manufacturer in the country to receive the BS-VI certificate from iCAT. This is India's second BS-VI compliant two-wheeler after Honda Activa 125 scooter and the first BS-VI motorcycle.