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TVS, Bajaj To Hike Prices Soon!
TVS Motor Company, the Chennai-based one went in for a 1.5-2 % price hike in the first week of April and the hike covered its entire range including three-wheelers. It was due to the steel and rubber price hikes and the increase in overhead costs for suppliers.
H S Goindi, president, TVS Motor, said that they have passed on a miniscule part of the cost increase so the company will definitely look at the price line again once it come to know the complete extent of the impact by the end of May. The company will take a call on further price revision in June.
Also, Bajaj Auto hiked prices in the first week of April and marked up export prices from May month.
Anil Dua, senior vice-president (marketing and sales), Hero Honda said that they are monitoring the commodity situation closely and keeping all our options open.
In March month, Hero Honda took a price increase and hence now it is holding prices. And In April, Hero Honda totted up more than 39% growth in sales volumes at a amazing 5,17,099 units.
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