Hero MotoCorp announces upward revision in prices, stock rises nearly 2%

Two-wheeler maker Hero MotoCorp on Thursday stated it will make an upward revision in the ex-showroom charges of its motorcycles and scooters, with effect from January 4, 2022.

The price tag revision has been necessitated to partly offset the impression of steadily expanding commodity charges.

The price tag revision will be up to Rs 2,000 and the precise quantum of increase will count on the model and the sector, the company stated in a stock trade submitting.

Following the news, the company’s scrip on BSE closed virtually 2% higher at Rs 2,394.

In the same way, Volkswagen Passenger Vehicles India announced that it will hike the charges of Polo, Vento and Taigun from January 1, 2022 owing to the climbing enter and operational fees.

The price tag revision will be ranging from 2-5 for each cent relying on the carline and the variant., it stated.

Value hike will not be relevant to the new Tiguan, which was released in India not long ago, it extra.

“Our exertion more than the a long time has been to make our brand name, products and solutions additional available and build Volkswagen as the brand name of selection among our prospects. Due to the sizeable increase in the enter and operational fees, we have made a decision to hike the charges of our merchandise featuring ranging from 2-5 for each cent and preserving the impression on prospects at a negligible degree,” Volkswagen Passenger Vehicles India Brand Director Ashish Gupta noted.

There has been a regular increase in charges of raw products like steel, aluminum, copper, and treasured metals more than the very last yr prompting automobile makers to raise model charges.

By now, various carmakers like Maruti Suzuki India, Tata Motors, Toyota Kirloskar Motor, Honda Vehicles and Skoda have indicated to increase motor vehicle charges from next thirty day period.

(With inputs from PTI).

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