Business

Hero MotoCorp to hike prices from October 3

New Delhi, Sep 26 (Agencies) | Publish Date: 9/26/2018 12:26:59 PM IST

Country’s largest two-wheeler manufacturer Hero MotoCorp will increase prices of its vehicles by up to Rs 900 to offset increase in commodity costs and currency depreciation, ETAuto reported.

The upward revision, effective October 3 2018 will be on the ex-showroom prices of its motorcycles and scooters, the company said in a statement.

The price hike will translate to an increase of up to Rs 900, the company said, adding the exact quantum of the increase will vary, basis the model and the specific market. 

Recently, Bajaj Auto announced a rise in prices of about Rs 3,000 to Rs 8,000 in the on-road prices, starting from September 1, 2018 on its motorcycles. 

Honda Motorcycles and Scooters India Pvt Ltd (HMSI) also increased prices by Rs 4,000 to Rs 10,000 on its range of motorcycles and scooters.

The hike comes after the decision to make third party insurance cover mandatory up to five years on new two-wheelers by insurance regulator IRDAI.

 

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