Hero MotoCorp, one of India’s leading two-wheeler manufacturers, is set to raise prices across selected scooter and motorcycle models starting July 1, 2024.
The price increase, which will vary by model and market, is expected to be up to ₹1,500 per unit. The company attributes this decision to rising production costs.
Models Affected by the Price Hike
Hero MotoCorp currently offers a range of bikes including the HF DELUXE, SPLENDOR series, GLAMOUR series, PASSION series, XTREME series, and XPULSE series. Its scooter lineup includes Zoom, Pleasure, and Destiny models.
Stock Performance and Market Update
On June 24, Hero MotoCorp’s stock showed marginal gains on the BSE. Starting lower at Rs 5,445, it peaked at Rs 5,491.90, marking nearly a 1 percent increase from the previous day’s close.
The company’s market capitalization stands at Rs 1 lakh crore, reflecting a 90 percent increase in its stock price over the past year.
Tata Motors to Increase Prices of Commercial Vehicles
Tata Motors, a prominent manufacturer of commercial vehicles in India, has announced a price hike of up to 2 percent across its entire range of commercial vehicles effective from July 1, 2024.
This decision is in response to the rising prices of commodities affecting production costs. Earlier this year, Tata Motors had already implemented a 2 percent price increase from April 1, 2024.
The company produces trucks, buses, and other commercial vehicles and remains a key player in the Indian market.
