Hero MotorCorp is a dependable name in the list of homegrown automakers in India. 2020 has been a sort of year not many would have imagined or dreamt of, let alone anticipating a year like this. The Covid-19 pandemic has caught everyone including companies and governments off guard for reasons best known to everyone. As a result, April 2020 turn out to be an absolute disaster, an absolute, all-time low for automakers all across India. For the first time in history, not a single automobile was sold in an entire month.
More details
From plumbing to an absolute zero in April, automakers have recovered well to register good sales numbers in 4th calendar quarter, aided by the much needed Festive season.
An expected of the pandemic, besides job loss, economy plummeting was the increase in prices of various raw materials for core sectors like manufacturing. Materials like steel, plastics, metals, cement etc. all witnessed a northward price trend. And this is expectedly led to many automakers announcing a price hike across models in their portfolio and now Hero MotorCorp has announced a price hike.
Official statement
According to the official press release, Hero stated “There has been a steady rise in commodity costs across the spectrum, including steel, aluminium, plastics, and precious metals. We have already accelerated our savings programme under the Leap-2 umbrella and will continue to work on mitigating the impact, with the objective to reduce the burden on the customers and protect our margins. In order to partially offset the impact of the commodity costs, we will be increasing the prices of our products by up to INR 1500, with effect from January 1, 2021. The increase will vary across models, and the exact quantum will be communicated to our dealers in due course.”
Hero’s portfolio includes the Xtreme 160R, the Xpulse 200, the Passion pro BS6, splendor+ and splendor iSmart BS6, the Hero Glamour BS6, the hero HF deluxe BS6, the super splendor BS6, destini 125 BS6, Xtreme 200S, Xpulse 200T in the motorcycle department. Hero also offers the Maestro 125 and maestro 110 BS6 and the Pleasure+ BS6 scooters to opt from.