Price revision announced on Hero MotoCorp two wheelers wef April 1, 2021
At the fag end of FY21, one is left with no choice but to look back on the year that’s gone by. Last year this time, people were just waking up to Covid-19 pandemic. With it came a lockdown. Stringent norms meant for the first time ever, the auto industry collectively sold no vehicles in April 2020. Production and sales were at nought, and movement of people was restricted to only emergencies.
Since then, a lot has changed. Step by step businesses have inched their way back. And come April 2021, similar to most manufacturers, Hero MotoCorp is revising the ex-sh price of its motorcycles and scooters. Price hike comes in effect on April 1, 2021.
Price hike of upto 2.5k
Keeping in mind Hero’s wide product portfolio, price increase across the two-wheeler range will be up to Rs 2500. Exact hike varies depending on model/variant, and specific market. Price of best selling Hero products like Splendor, Passion, Maestro, HF Deluxe, Xpulse, etc – will also be increased.
Hero MotoCorp attributes the upward revision to partially offset impact of increased commodity costs. The company has accelerated its cost savings program. This is turn ensures minimal impact on the customer.
FY22 price revision
Manufacturers have had to tread carefully in the quarter ending March 2021. Following a largely inactive Q1, it’s only in Q2 FY21 that business were slowly able to bob their head above the surface. The October to December quarter saw much activity considering traditional purchases during the festive season.
When the previous fiscal came to an end, companies were in a transition phase to BS6 compliant vehicles. The deadline for this was April 1, 2020. And that transition wasn’t the smoothest owing to Covid-19 pandemic related lockdown restrictions.
Luckily though, there has been an uptick in conversations related to the need of private commuter vehicles keeping in mind safety. Keeping in mind Hero MotoCorp’s ability to make sales of 5 lakh units on any given month look like a cakewalk, it seems its business as usual.
For 2021, this is the second public price revision announcement from Hero MotoCorp. The first again by design was made as we stepped into 2021. As is customary, new manufacturing year vehicles warrant a price hike at the start of each year. At the time, price revisions were made to the extent of 1,500 bucks depending on model and state of sales. In theory, this means a purchase decision deferred by 3 months can prove to be dearer by 4 grands for a prospective Hero customer. And this will not be the last of it.
Source: Bike - rushlane.com
