Hero MotoCorp set to increase prices by up to Rs 2,000 from January 1, 2020

The exact amount of increase will vary on the basis of the model and the specific market.
Hero MotoCorp set to increase prices by up to Rs 2,000 from January 1, 2020
Hero MotoCorp set to increase prices by up to Rs 2,000 from January 1, 2020
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Motorcycle major Hero MotoCorp has announced that it will be hiking prices of its bikes starting January 1, 2020. The increase would be in the region of Rs 2,000 and the quantum of increase will be different for different models and the company may be sending the revised pricelists to its dealers shortly.

Expect all automobile manufacturers to announce increases in the prices of their various vehicles, two-wheelers and four wheelers and even commercial vehicles. The basic reason would be that they have been mandated by the government to produce and sell only BS-VI certified vehicles from April 1, 2020. This means an enhancement is technology for which the companies have spent a lot of funds and the only way for them to recover it is to increase the selling prices of vehicles.

Some automobile companies have cited increase in input costs through the last year which are being now adjusted through these price hikes. In the passenger car segment, leader of the pack, Maruti Suzuki has already said come January, it will hike the prices of its models, again, one will have to wait to know the details of the increase.

Others in the market such as Tata Motors, Hyundai Motor India and Mahindra and Mahindra could follow suit as well with their price increase announcements.

It must be conceded that the industry has had one of its worst periods the last one year and with sales continuing to nosedive, there was no way they could have thought of increasing prices. On the other hand, one has been seeing huge advertisements, at least from the car makers of discounts of all kinds appearing in the print media on a regular basis.  

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