Hero MotoCorp has announced a price hike of up to Rs 3,000 on its motorcycles and scooters.
Price hike has been attributed to increase in raw material costs
The hike will partially offset commodity prices like steel and plastic
Hero had previously increased prices in January 2021 and April 2021
The price hike will come into effect from July 1, 2021. The exact quantum of the price hike will depend on the model and the specific market.
The country's largest two-wheeler manufacturer said, given the increase in price of raw materials, the cost of production has gone up. The price hike has hence been unavoidable, to partially offset the cost of commodity prices.
The company had previously increased prices of its two-wheelers in January 2021, followed by another hike in April, citing similar reasons.
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