Two-wheeler maker Hero MotoCorp Ltd. on Tuesday said it will make an upward revision in the ex-showroom prices of its motorcycles and scooters, with effect from April 1, 2021, in order to partially offset the impact of higher commodity costs.
"The price hike has been necessitated to partially offset the impact of increased commodity costs," Hero MotoCorp said in a filing to BSE.
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, it added.
The company has accelerated its cost-savings programme to ensure minimal impact on the customer, Hero MotoCorp said.
Shares of Hero MotoCorp closed at Rs 3,067.15 per scrip on BSE, down 0.83% from its previous close.
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