Hero MotoCorp to increase prices by up to Rs 2,500 from April

The country's largest two-wheeler maker Hero MotoCorp on Tuesday said it will increase prices of its motorcycles and scooters by up to Rs 2,500 from next month in order to partially offset the impact of increase in commodity costs.

The company will make an upward revision in the ex-showroom prices of its motorcycles and scooters, with effect from April 1, 2021, Hero MotoCorp said in a statement.

The price hike has been necessitated to partially offset the impact of increased commodity costs, it added.

The company has accelerated its cost-savings programme to ensure minimal impact on the customer, the two-wheeler major noted.

"The price increase across the range of two-wheelers will be up to Rs 2,500, and the exact quantum of the increase will vary on the basis of the model and the specific market," it added.

Automakers like Nissan and Maruti Suzuki have already announced price hikes from April.

Nissan India said it will increase prices of its entire product range, including Dasun products, from next month.

"There has been continuous escalation in auto component prices, and we have tried to absorb this escalation over the last few months.

"We are now constrained to increase our prices across all Nissan and Datsun models, the increase varies from variant to variant, while still offering the best value proposition to its discerning Indian customers," Nissan Motor India Managing Director Rakesh Srivastava said.

On Monday, Maruti Suzuki had announced to substantially hike vehicle prices from April in order to offset an increase in raw material cost.