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World's largest two-wheeler manufacturer Hero MotoCorp has announced that it will increase the prices of its entire range in the Indian market. The price hike will come into effect from October 3, 2018.
Hero MotoCorp has stated that the prices will be increased up to Rs 900 depending on the model and the state. The reason behind the price hike is the rising costs for raw materials and fall in rupee value against the US dollar. This is the third price hike from Hero MotoCorp in 2018.
Previously, in April and July 2018, Hero MotoCorp had increased the prices due to the rise in input costs. Now, once again the company is set to hike prices across the range. With the festive season just around the corner, we do not expect the price hike to affect the sales of the products.
Currently, Hero MotoCorp's India product portfolio consists of 21 models which include bikes and scooters. The company retails bikes ranging from Dawn HF, which is priced at Rs 37,625 to Karizma ZMR, which comes with a price tag of Rs 1.10 lakh. Both prices are ex-showroom (Delhi).
Hero MotoCorp has recently launched the new Xtreme 200R with a price tag of Rs 88,000. But later, the price of the naked bike was increased to Rs 89,900. Both the prices are ex-showroom (Delhi). Now, the prices will be increased up to Rs 900 across the range.
Thoughts On The Hero MotoCorp Price Hike
Hero MotoCorp has announced a price hike for the third time in 2018. The latest price hike will be effective from October 3, 2018, and the decision to increase the price has been taken due to the rising cost of raw materials. But the price hike is only marginal and it should not affect the sales.