The country’s largest motorcycle and scooter manufacturer, Hero MotoCorp, will increase ex-showroom prices of its two-wheelers vehicles by up to ₹3,000, effective from July 1.
“The exact quantum of increase will be subject to the specific model and market. The price revision has been necessitated to partially offset the steadily growing overall cost inflation, including commodity prices,” the company said in a statement.
The upward revision has come following an increase in price for two times that the company made in January and then in April.
In January and April, the company added up to ₹2,000 in the ex-showroom price.
HeroMotocorp is the world’s largest two-wheeler manufacturer. In the month of May, it registered the sales of 486,704 vehicles. On a sequential basis, it reported 16% month-over-month growth, with sales of 418,622 in April.
It sells various models, varying from HF100 with an entry price of ₹51,450 to a recently launched Xpulse 200 4V of ₹1.32 lakh (ex-showroom Delhi).
The repeated upwards revisions in prices are coming due to headwinds faced by the company in the form of supply chain issues and semiconductors shortages. Hero MotoCorp had announced the last month that it is planning to defer the launch of electric scooters to the festival season instead of July.