The price increase will impact every model in the company lineup – Rising input costs has been cited as reason for this decision
Hero MotoCorp has announced a price hike across portfolio. The new prices come into effect from 1st July 2021. This is the second price hike in this calendar year. The company had earlier hiked prices in March 2021.
As the prices for raw materials like steel, aluminum and precious metals have sharply increased, Hero MotoCorp had no other option but to pass on the hike to end customer. Raw materials price, many of which are at an all-time high, has impacting input costs. Hero MotoCorp’s cost saving program has however ensured that this price hike will have a minimum impact on customers.
Hero Motorcycle Prices – July 2021
The price hike will impact all models of scooters and motorcycles and start off at a price hike on the Hero HF 100 Kick Drum Spoke by Rs 300. The earlier price of Rs.50,700 has now been increased to Rs.50,900 while the highest price hike of Rs.3,800 is on Hero Xtreme 200S which was earlier priced at Rs.1,20,214 to a new high of Rs.1,24,014.
Price hikes across the scooter segment start off at Rs.850 for the Hero Pleasure Plus which from Rs.64,100 has now been increased to Rs.64,950. There is also a Rs.1,600 price hike on the Hero Destini 125 drum brake steel wheel variant which has been hiked from Rs.58,900 to Rs.60,500. Below is the detailed list of new prices of all Hero motorcycles on sale.
Hero MotoCorp is set to introduce the new Glamour XTEC premium commuter bike in India. This is a more premium iteration of the standard Glamour 125cc that the company already retails in India along with the Super Splendor. The Glamour XTEC will come in with more premium features and will hence carry a higher price tag.
Hero Scooter Prices – July 2021
Scooters such as the Hero Maestro Edge, Maestro edge 125 and Hero Destini 125 Drum Brake Alloy Wheel Platinum has also been hiked by Rs 1,560 while the Drum Brake Alloy Wheel variant gets a price hike of Rs 1,550. Below is the list of new prices of Hero scooters.
Several other two wheeler makers have also announced price hikes. Honda Two Wheeler prices have also been increased from 3rd July 2021 by upto Rs.2,000. Honda also cites that rising input costs are reasons for this price hike along with escalating fuel prices.
Decline in sales in view of the pandemic situation has impacted the industry and rising input costs are putting on further pressure. The situation however, seems to be easing in several states and restrictions are being lifted which could soon see operations and sales moving back to normal.
Along with two wheeler makers, automakers are also announcing revised pricing. Maruti Suzuki announced higher pricing for the third time in June 21, the third time this calendar year while other automakers could soon follow suit.