Hero MotoCorp has announced that it will make an upward revision in the ex-showroom prices of its motorcycles and scooters, with effect from April 5, 2022.
The company stated that price revision has been necessitated to partially offset the impact of increasing commodity prices. The price revision will be up to Rs. 2,000 and the exact quantum of increase will be subject to the specific model and the market.
Several automakers, homegrown and foreign are set to increase their prices from April 1 due to a slew of reasons including the ongoing geopolitical situation in Russia and Ukraine, an increase in input costs and others.
Luxury automobile manufacturer BMW India said it will increase prices by up to 3.5 per cent across its model range effective from April 1. The price increase will be brought into effect to adjust the material and logistics costs, the impact of the current geopolitical situation and exchange rates.
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Earlier, another luxury carmaker, Mercedes-Benz India had announced an upward revision in the price of its entire model range effective from April 1.
According to Mercedes-Benz India, the imminent price correction would be in the range of 3 per cent across the entire model range. It said that the constant increase in input prices in addition to an increase in logistics rates has been exerting significant pressure on the overall costs of the company.
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