Hero MotoCorp raises prices from April 5 Auto News, Firstpost
The company said the upward adjustment was necessary to partially offset the impact of rising raw material prices.
Hero XPulse 200 4V. (Image: Hero MotoCorp)
Two-wheeler major Hero MotoCorp recently announced that it will be making an upward revision to the ex-showroom prices of its motorcycles and scooters effective April 5. The company said the upward revision was necessary to mitigate the impact of rising commodity prices.
“The price revision will go up to Rs 2,000 and the exact amount of the increase will depend on the specific model and market,” the company said in a statement.
On Saturday, automaker Toyota Kirloskar Motor (TKM) said it will adjust the prices of its models by up to 4 percent effective April 1. The company said this increase is the result of rising input costs, including those of raw materials.
“As a dedicated and customer-oriented company, TKM has made every conscious effort to minimize the impact of rising costs on consumers,” a TKM spokesperson said in a statement.
Luxury automaker BMW India said it will raise prices by up to 3.5 percent for its model range from April 1.
The price increase will be implemented to adjust material and logistics costs, the impact of the current geopolitical situation and exchange rates, the company said.
Earlier, another luxury car maker, Mercedes-Benz India, had announced an upward price revision of its entire model range effective April 1. model range. It said the constant increase in input prices in addition to an increase in logistics rates is putting significant pressure on the company’s overall costs.