Hero MotoCorp to raise prices by up to Rs 3,000 from July 1

The impact of the coronavirus pandemic has had long lasting effects across the automobile spectrum. Auto manufacturers have already been raising prices across the board and the latest entry into the hike lineup is Hero MotoCorp.

Starting July 1, the Indian motorcycle manufacturing company will be raising prices across its range. Prices are expected to go up by up to Rs 3,000.

According to the statement released by Hero MotoCorp, the upward revision is a direct result of the increase in commodity prices. The statement further adds that the company is driving cost savings programmes aggressively in order to minimise the impact on the customer.

Currently, there is no indication on the exact prices, but it is expected to be across all of the Hero’s scooters and motorcycles.

This price hike trend has been picking up again ever since the second wave of COVID-19 took over the country. Maruti Suzuki only recently hiked prices on its offerings while BMW and Tata Motors have both seen price revisions in their lineup as well. Mahindra, too, is considering a revision.

At the start of the year, most manufacturers had already raised prices to offset the rise in raw material costs as well as the lack-lustre sales due to the pandemic.