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The world’s largest two-wheeler manufacturer, Hero MotoCorp has announced the hike in price for all the existing models in Indian lineup. The increase in price will depend on models and implied on ex-showroom cost, ranging from Rs 500 to Rs 2,200. The new rates have come into effect from 1 May 2017. As per the auto major, the witnessed increase in price is due to compensating the impact of rising input costs.
In the Indian market, Hero MotoCorp have a range of two-wheelers starting from entry level bike HF Deluxe to top-end Karizma ZMR model, with prices in the range of Rs. 40,000 to over Rs. 1 lakh.
The recent release sales report of April month showcasing a drop of 3.49 percent in terms of disposed of units. Last month, the company has managed to sell only 591,306 two-wheelers against 6,12,739 sold units in the corresponding month last year. But, the company did not find any problem with this downfall as almost all the available manufacturers in the country has witnessed downfall owing to emission norms transition from BS-III to BS-IV standard. As wedding season is on, the brand is hoping to return with a boost.
Besides all this, Hero MotoCorp is maintaining its top position in the country, However, the gap to its closest competitor, Honda is shrinking day by day and reached less than 12,500 units in April.
In the financial year 2016-17, Hero retailed 6,483,655 two-wheelers, with a jump of less than 1 percent on a year on year basis.
The Splendor too is no longer the India’s largest selling two-wheeler and was defeated by the Honda Activa last fiscal by a big margin of 1.97 lakh units.
In early 2018, Hero MotoCorp is likely to get back to the premium segment with the upcoming Hero Xtreme 200S in India.
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