The world’s largest manufacturer of two-wheelers, Hero MotoCorp has announced that it will increase the prices of its product range by up to ₹ 1,500 with effect from January 1, 2021. The announcement comes a day after automaker Mahindra & Mahindra announced it will be hiking prices across passenger and commercial vehicles. The two-wheeler company further stated that the decision to hike prices has been taken to partially offset the impact of the commodity costs. Hero becomes the first two-wheeler maker to announce a price hike for the new year.
In a regulatory filing, Hero MotoCorp said, “In order to partially offset the impact of the commodity costs, we will be increasing the prices of our products by up to Rs 1,500, with effect from January 1, 2021. The price hike will vary across models, and the exact quantum will be communicated to our dealers in due course.”