Hero MotoCorp to hike prices of motorcycles and scooters from July 3

Hero MotoCorp is to make an upward revision in the ex-showroom prices of its motorcycles and scooters, effective July 3, 2023. The company said that the price increase will be around 1.5% and the exact quantum of the increase will vary for specific models and markets.

As per the company, the hike in prices of its motorcycles and scooters "is part of the price review that the two-wheeler maker undertakes from time to time, keeping in mind various factors like price positioning, input costs, and business imperatives."

Hero MotoCorp will continue with innovative financing programs to minimise the impact on the customers, it said in a press release. 

This latest upward price revision marks the second price hike from Hero MotoCorp in CY2023. On March 22, the company had announced an increase of around 2% on select models, effective April 1 due to cost increases on account of the transition to OBD 2.

The onset of monsoon in most parts of the country and overall economic indicators augur well for a growth in demand, and industry volumes are expected to pick up leading into the upcoming festive season, the company further stated.