According to the company, prices are being increased to reduce the impact of expensive raw materials.
Hero MotoCorp to increase prices next week
Hero MotoCorp (Hero Motocorp) from next week hike in prices of bikes ,Price hike) is going to do. The company has informed that from April 5, the prices of the bike will increase up to Rs.2000. The company said in a statement that the prices are being increased to offset the effect of increase in raw material prices. Auto sector due to cost escalation (Auto Sector Many companies have already announced an increase in prices. From the month of April, Toyota, Audi, BMW Mercedes Benz are going to increase the prices of their vehicles.
how much will the prices increase
According to the company, the ex-showroom prices of its entire product range will be increased, this increase will be up to a maximum of Rs 2000, which will vary according to the market and model. The auto sector is currently facing high costs. Along with the epidemic, prices are seeing a rise due to the halt in the production of raw materials across the world and the recovery in production sluggish in comparison to the fast recovery in demand. At the same time, the situation has worsened due to the Russia-Ukraine crisis. The reason for the rise in raw material prices is the rising cost of the companies and to deal with it, they have to increase the prices in the last few quarters.
Wholesale sales down 29 percent in February
Hero MotoCorp’s wholesale sales declined by 29 per cent to 3,58,254 units last month as compared to 5,05,467 units sold in the same month last year. The company’s domestic sales also declined by 31.57 percent to 3,31,462 units during February 2022 from 4,84,433 units in February 2021. Apart from this, Hero MotoCorp sold 3,38,454 motorcycles last month as compared to 4,63,723 units sold in the same month last year. The company’s scooter sales also came down to 19,800 units in February 2022. A year ago in the same month, the company sold 41,744 scooters. The company’s exports, however, increased to 26,792 units last month from 21,034 units in February 2021.