Hero MotoCorp announces price revision across its product range of MY21 motorcycles and scooters
2020 bore witness to an unprecedentedly difficult business year owing to national lockdown relay to Covid-19 pandemic. As the year comes to a close, auto manufacturers have had important takeaways. Most managed to report an uptick in retail sales for the recently concluded festive season.
The two-wheeler industry has done well in recent weeks. Of them, Hero MotoCorp remains the industry giant with a lead that’s unthreatened. And despite difficult circumstances, it all came together for Hero MotoCorp. In October, the company reported retail sales at over 8 lakh units.
As 2021 approaches, one can expect all auto manufacturers to announce a range of price revisions across product portfolios. Hero MotoCorp attributes this to a steady rise in commodity costs across the spectrum, including steel, aluminium, plastics, and precious metals.
New Prices wef Jan 01, 2021
The manufacturer has accelerated its savings programme under Leap-2 umbrella, and continues to mitigate impact. This to reduce burden on customers, and protect company margins. To partially offset impact of commodity costs, Hero MotoCorp will increase product price by upto Rs 1,500, with effect from January 1, 2021.
Price increase will vary across models, including their best-sellers like Splendor, Passion, Deluxe, Glamour, Destini, Pleasure, Maestro and even the premium range like Xpulse, Xtreme. ‘Final price revisions will be communicated to dealers in due course,‘ said Hero MotoCorp in a regulatory filing.
A planned price hike such as this is a yearly occurrence. Depending on variables, price hikes are announced through the year. In most cases, for individual product ranges. Start of year price hike takes into account new model year vehicles. Given the situation, one can always opt to go bargain hunting for December deals.
With dealerships keeping a close eye on existing stock, it’s in everyones best interest to sell all current MY vehicles. More often than not, depending on availability, manufacturers curate special deals. Making price points as attractive as ever is enough to get noticed. And resultantly, maintain sales momentum.
Hero MotoCorp 2020 December deals
Hero MotoCorp is currently offering cash benefit of Rs 4,000 on exchange deals on purchase of Xtreme 200S, Xtreme 160R and Xpulse 200 over the fortnight. Destini 125, Maestro 125, Maestro 110 Passion Pro and Super Splendor are being offered with Rs 2,100 exchange and loyalty bonus while Hero Glamour comes with Rs 2,100 cash discount.
It’s safe to say that deals aren’t limiting. Customers could find themselves spoilt for choice. Especially, since, discount deals are available from multiple manufacturers. Following heightened sales activity during the festive season each year owing to a sizeable number of planned purchases, December sales could always seem lacklustre. The saving grace is always the quantum of end of year discounts and offers attractive enough to get customers back into showrooms.
This works well to ensure a strong year end, and Q4 cumulative sales. An inevitable price rise in 2021 is sometimes a good enough reason to buy that vehicle before the new year. Sales further thrived in recent months owing to flexibility in finance plans. This includes debit card bank EMI plans for two-wheeler purchases.