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

Two-wheeler maker Hero MotoCorp on Thursday mentioned it will make an upward revision in the ex-showroom price ranges of its bikes and scooters, with outcome from January four, 2022.

The price tag revision has been necessitated to partially offset the affect of steadily raising commodity price ranges.

The price tag revision will be up to Rs two,000 and the actual quantum of maximize will count on the product and the current market, the company mentioned in a inventory trade filing.

Adhering to the information, the company’s scrip on BSE closed almost two% larger at Rs two,394.

In the same way, Volkswagen Passenger Cars India declared that it will hike the price ranges of Polo, Vento and Taigun from January 1, 2022 owing to the rising enter and operational expenses.

The price tag revision will be ranging from two-five for each cent relying on the carline and the variant., it mentioned.

Rate hike will not be applicable to the new Tiguan, which was launched in India just lately, it added.

“Our work about the decades has been to make our manufacturer, merchandise and companies more accessible and create Volkswagen as the manufacturer of preference amongst our consumers. Thanks to the considerable maximize in the enter and operational expenses, we have decided to hike the price ranges of our product or service offering ranging from two-five for each cent and keeping the affect on consumers at a minimum level,” Volkswagen Passenger Cars India Brand name Director Ashish Gupta famous.

There has been a steady maximize in price ranges of raw components like steel, aluminum, copper, and valuable metals about the previous yr prompting auto makers to raise product price ranges.

By now, a variety of carmakers like Maruti Suzuki India, Tata Motors, Toyota Kirloskar Motor, Honda Cars and Skoda have indicated to maximize motor vehicle price ranges from next thirty day period.

(With inputs from PTI).

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