New Delhi: Hero MotoCorp will make an upward revision in the ex-showroom prices of its motorcycles and scooters, with effect from July 1. The price hike has been necessitated to partially offset the impact of continuous increase in commodity prices.Also Read - Uddhav Thackeray Drives Towards Raj Bhavan To Submit Resignation As Maharashtra CM | Watch
The company continues to drive cost savings programme aggressively, in order to minimise the impact on the customer, Hero MotoCorp said in a statement. Also Read - Rebel Shiv Sena MLAs Arrive In Goa, To Depart For Mumbai In Few Hours
The price hike across the range of motorcycles and scooters will be up to Rs 3,000 and the exact quantum of the increase will depend on the basis of the model and the specific market. Also Read - Maharashtra Crisis Live: Uddhav Submits Resignation to Governor After Resigning From CM’s Post
Maruti Suzuki Price Hike 2021, Maruti Suzuki Price in India, Maruti Suzuki Price Increase
- Meanwhile, Maruti Suzuki will also raise prices of its vehicles during the July-September quarter due to high input costs.
- In a regulatory filing, the company said that over the past year the cost of the company’s vehicles continued to be adversely impacted due to increase in various input costs.
- “Hence, it has become imperative for the company to pass on some impact of the above additional cost to customers through a price rise,” it said.
- The company added that the price rise has been planned in the second quarter of this fiscal and the increase shall vary for different models.
- It had earlier raised prices for different car models in April.
- Several vehicle makers have raised prices amid the pandemic as input costs have increased. Further, the decline in sales amid the pandemic has also impacted the industry.
- However, with the situation easing across various states, restrictions are likely to ease and automakers would move back to normalising the operations.
- Around 1.36 p.m., shares of the company on the BSE were at Rs 6,894.05 crore, lower by Rs 64.65 or 0.93 per cent from its previous close.
(Hero MotoCorp Price Hike and Maruti Suzuki Price Hike are two separate IANS copies. India.com has merged the copies into a single one)