Hero MotoCorp has announced a hike in the ex-showroom prices of the company’s scooters and motorcycles with effect from September 20, 2021.
see photosHero MotoCorp announces price hike across product range from September 20, 2021
Hero MotocorpThe world’s largest two-wheeler manufacturer by volume has announced a price hike for its entire two-wheeler range. According to a statement issued by the company, Hero MotoCorp will revise the ex-showroom prices of its motorcycles and scooters upwards with effect from September 20, 2021. According to Hero MotoCorp, the increase in prices has been necessitated to offset the impact. Due to the continuous increase in the prices of commodities. The company statement said that the price of Hero motorcycles and scooters will increase by up to Rs 3,000.
Read also: Hero MotoCorp reports 1 lakh retail sales in a single day
Hero Glamor is one of the best selling 125 cc motorcycles in India.
The company said that more details about the price hike on a particular scooter or motorcycle will depend on the model and the market. While the hike in prices may not be a good indicator for the consumers, the steady rise in commodity prices will also be disappointing for Hero MotoCorp’s customers, most of whom are in large market segments. There are several positive indicators, and the company remains optimistic about demand for the upcoming festive season, said a Hero MotoCorp statement.
Read also: Hero MotoCorp’s net profit up 496 percent in the first quarter of FY 2022
Hero Splendor+ is the best selling motorcycle in India.
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In the period April to June 2021, Hero MotoCorp shipped 10.25 lakh motorcycles and scooters, registering a nearly five-fold increase in net profit. During this period, Hero MotoCorp reported a net profit of ₹365 crore, with revenue from operations at ₹5,487 crore. Nearly half of the first quarter of FY 2022 (April to June 2021) saw significant disruptions due to local lockdowns imposed by various state governments and authorities across the country due to the pandemic. Despite these challenges, Hero MotoCorp achieved significant growth in both earnings and profitability. With the upcoming festive season, a traditional period of high sales, the company remains optimistic for consumer demand to pick up in the next few months.
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