“Hero MotoCorp will make an upward revision in the ex-showroom prices of its motorcycles and scooters, with effect from April 1, 2021”, the company said in a statement.
The company did not specify the quantum of the price hike it will effect. “The price hike has been necessitated to partially offset the impact of increased commodity costs. “The company has accelerated its cost savings program to ensure minimal impact on the customer”, the statement added.
too announced its decision to raise vehicle prices from April to counter the impact of high commodity costs. Japanese carmaker Nissan also has announced plans to increase vehicle prices under both Nissan and Datsun brands from April 1, 2020.