The country's largest two-wheeler maker Hero MotoCorp today hiked prices of its products by up to Rs 1,500 across models to offset the impact of rising input costs and rupee depreciation.
"We have decided to raise the prices of our products. This is on account of the rising input costs due to the depreciating Indian rupee and also the rising power and logistics costs," a company spokesperson said.
The price increase is in the range of Rs 500 to Rs 1500 across our product portfolio, he added.
Hero MotoCorp sells a range of two-wheelers starting from entry level bike HF DAWN priced at Rs 37,350 to top-end Karizma ZMR priced Rs 1,00,300 (ex-showroom Delhi).
Last week, Bajaj Auto had said it planned to increase the prices of its vehicles across segments due to rise in input costs. While the company has not decided the quantum of hike, it is likely to be between Rs 500 and Rs 5,000.
Ahead of the festive season carmakers, including Maruti Suzuki, Hyundai Motor India, Nissan, General Motors and Mahindra & Mahindra, have already announced price hikes.