Two-wheeler major Hero MotoCorp has announced that it will increase the prices of its vehicles with effect from April 1, 2021. The price increase across the range of two-wheelers will be up to Rs 2,500, and the exact quantum of the increase will vary on the basis of the model and the specific market, the company said in a statement.
"Hero MotoCorp will make an upward revision in the ex-showroom prices of its motorcycles and scooters, with effect from April 1, 2021," it said.
The company said that the move has been necessitated to partially offset the impact of increased commodity costs.
The two-wheeler giant also said that it has accelerated its cost savings programme to ensure minimal impact on the customer.
Nissan India has also announced a price hike across all available models for Nissan and Datsun, effective from April 1.
"There has been continuous escalation in auto component prices, and we have tried to absorb this escalation over the last few months. We are now constrained to increase our prices across all Nissan & Datsun models, the increase varies from variant to variant, while still offering the best value proposition to its discerning Indian customers,â€ť said Rakesh Srivastava, Managing Director, Nissan Motor India Pvt Ltd.
The countryâ€™s largest manufacturer Maruti Suzuki has also announced that it is going to increase the prices of its models from April due to a rise in input costs. This is the second such hike this year for Maruti Suzuki, which did not elaborate on the models that will be affected.
â€śOver the past year, the cost of company's vehicles has been 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 increase in April 2021. This price increase shall vary for different models,â€ť the company said in a statement.
With IANS inputs