If you're planning to purchase a Hero MotoCorp motorcycle or scooter, this week might be the best time to do so. The company has announced a price hike on the ex-showroom prices of select models, which will take effect from July 1, 2024.
Hero MotoCorp Price Hike: By how muchAs per the company, the price revision will be up to Rs 1,500, with the exact increase varying by model and market. Hero MotoCorp, in a statement, issued in a stock exchange listing said that the adjustment is necessary to partially offset the impact of higher input costs.
The manufacturer, known for its dominance in the commuter motorcycles has recently tapped into the highly-competitive, mid-capacity segment with the debut of its biggest motorcycle yet, the Mavrick 440. Besides that, the company is gearing up to launch the updated version of its popular scooter, Destini 125, sometime in the coming months.
In other developments, the company reported a 4.11 percent decline in total sales for May 2024, selling 4,98,123 units compared to 5,19,474 in May 2023. Domestic sales dropped 7 percent to 4,79,450 units from 5,08,309 the previous year. However, exports rose significantly by 67.25 percent, reaching 18,673 units compared to 11,165 in May 2023. Among these, the Splendor range remained the top-selling product for the company, having sold 3,04,663 units last month.
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