Two-wheeler market leader Hero MotoCorp on Monday said it will increase prices of its motorcycles and scooters by up to Rs 2,000 from January. The price increase will be across range of two-wheelers and exact quantum of the hike will vary on the basis of model and specific market, Hero MotoCorp said in a statement. It, however, did not specify reasons for the plan to hike prices.
The company currently sells a range of motorcycles and scooters priced between Rs 39,900 to Rs 1.05 lakh. Last week the country's largest car maker Maruti Suzuki India had announced that would hike prices of its vehicles from January to offset rising input costs.
Other car manufacturers such as Toyota, Mahindra & Mahindra and Mercedes-Benz said they were also contemplating a similar move. Hyundai Motor India and Honda Cars India, however, said they would not increase vehicle prices in January, but their products will see rise in prices when BS-VI compliant models are introduced in the market.