Hero Motorcycles And Scooters To Get More Expensive In 2021
The price hikes come into effect due to the rise in material costs
Buying a new Hero motorcycle or scooter in 2021 will pinch your wallets a bit more with the brand planning to increase the prices of its products by up to Rs 1,500. The revised prices will be revealed on January 1, 2021. The brand has attributed the imminent price hike to the significant increase in material costs, especially due to the COVID-19 pandemic.
Hero is not the only one facing difficulties, Bajaj (including KTM and Husqvarna) and Yamaha have also hiked prices in the past couple of weeks. With no relief in sight, we expect motorcycles to get even more pricey in 2021.
Here’s the company’s official press statement:
OFFICIAL STATEMENT FROM HERO MOTOCORP ON
There has been a steady rise in commodity costs across the spectrum, including steel, aluminium, plastics, and precious metals. We have already accelerated our savings programme under the Leap-2 umbrella, and will continue to work on mitigating the impact, with the objective to reduce the burden on the customers and protect our margins.
In order to partially offset the impact of the commodity costs, we will be increasing the prices of our products by upto Rs. 1500, with effect from January 1, 2021. The increase will vary across models, and the exact quantum will be communicated to our dealers in due course.