Hero MotoCorp hikes prices of two-wheelers by Rs 3,000 from Q2FY22

On Wednesday, Hero MotoCorp announced an upward revision in the ex-showroom prices of its motorcycles and scooters with effect from July 1, 2021.  

Coronavirus pandemic had long-lasting effects across the automobile sector in India, forcing most auto manufacturers to raise prices across the board. At the start of the year, most manufacturers had already raised prices to offset the rise in raw material costs as well as the lacklustre sales due to the pandemic. The latest entry into the hike line-up is Hero MotoCorp.    

According to the press release filed by the company with BSE, the upward revision is a direct result of the increase in commodity prices. The price hike across the range of motorcycles & scooters will be up to Rs 3,000 while the exact quantum of the increase will depend on the model and the specific market.  

Earlier this week, Maruti Suzuki hiked prices on its offerings while BMW and Tata Motors have also seen price revisions in their line-up. Mahindra, too, is considering a revision. 

At 2.42 pm on Wednesday, the stock of Hero MotoCorp was trading at Rs 2,927.00, up by 0.70 per cent as against a 0.45 per cent decline in the benchmark index.  The 52-week high and 52-week low of the scrip was recorded at Rs 3,628.55 and Rs 2,406, respectively on BSE.