Hero MotoCorp will make an upward revision in the ex-showroom prices of its motorcycles and scooters, with effect from September 20, 2021. The price hike has been necessitated to offset the impact of steadily increasing commodity prices. The price hike across the range of motorcycles and scooters will be up to Rs. 3,000. The exact quantum of increase will depend on the model and the market. With several positive indicators, the Company remains optimistic about demand as it gears up for the upcoming festive season.
The country’s largest two-wheeler maker Hero MotoCorp on Saturday reported a 3.97 per cent dip in sales to 5,14,509 units in July compared to the same month of last year. The company had sold a total of 5,35,810 units in July 2019.
Despite the prevailing economic slowdown on account of the COVID-19 pandemic, the company registered a sequential growth of 14 per cent over June and reached more than 95 per cent of wholesale dispatch numbers of the corresponding month in the previous year, the two-wheeler major said. “The robust volumes have been driven by strong retail sales due to the positive market demand," it added.
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While there is cautious optimism on the demand trajectory going forward, sales continue to be impacted by the micro-lockdowns in several parts of the country, Hero MotoCorp said. For the growth momentum to continue, it would be pertinent for state and local authorities to provide a stable and consistent business environment as the situation evolves, it added.
The company said it has made significant progress in ramping up the production across all of its eight manufacturing facilities – six in India and two at global locations. More than 95 per cent of the company’s customer touch-points are currently operational, with strict safety measures and protocols in place, it added..
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