Two-wheeler major Hero MotoCorp said on September 22 that it has raised prices of its scooters and motorcycles with immediate effect, to partially offset the impact of cost inflation.
In a regulatory filing to the stock exchanges, the company said "Hero MotoCorp has made an upward revision in the ex-showroom prices of its motorcycles and scooters, with immediate effect i.e. September 22, 2022."
The price revision will be up to Rs 1,000 and the exact quantum of increase will vary by model and market, the company added.
The two-wheeler company had recently announced that it has partnered with Hindustan Petroleum Corporation Limited (HPCL) to establish charging infrastructure for electric vehicles (EVs) in India.
On September 16, Hero MotoCorp announced it was all set to foray into the electric segment next month with the launch of its first model in the domestic market with Vida brand.
Hero MotoCorp reported a 1.92 percent increase in total sales of its two-wheelers at 462,608 units in August 2022 against 453,879 units sold in the same month last year. By volumes, it saw domestic sales going up 4.55 percent to 450,740 units compared to 4,31,137 units in August 2021. Exports, however, declined to 11,868 units from 22,742 units a year earlier.
The company's latest addition in the two-wheelers was in July when it launched a Rally Edition of its 200cc bike Xpulse 200 4V.
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