The price will increase up to Rs 1,500, and the exact quantum of the hike will vary by specific models and markets, the company stated.
“The upward revision of the prices of our motorcycles and scooters has been necessitated due to overall inflationary costs,” PTI quoted Hero MotoCorp Chief Financial Officer Niranjan Gupta as saying.
The company will continue to provide innovative financing solutions in order to cushion the impact on the customers, he added.
“We have also put in place accelerated savings programmes, which will help us to offset any further cost impact, and drive improvement in margins,” the two-wheeler major said.
Moving forward, the economic indicators are favourable to a growth in demand, and the company expects industry volumes to pick up in coming quarters, it added.
(With inputs from PTI)
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