Hero Motocorp to Increase Prices of Splendor And Other Two-Wheelers from Next Month

Hero MotoCorp, one of the country’s largest two-wheeler companies, has informed about increasing the prices of its entire range from next month. The price hike will be around two percent and the major reason for this is the increase in cost due to OBD 2 and RDE regulations. The new emission norms will be applicable for all vehicles from April.

Hero MotoCorp told that the increase in the price will be according to the model and market. The company plans to provide innovative financing solutions to customers to mitigate the impact of the price hike. Hero MotoCorp’s sales last month grew by nearly 10 per cent to 3.94 lakh units. The recovery in the two-wheelers market has been slow since the pandemic and companies in this segment are expecting growth this year. Hero MotoCorp Said that the demand for the company has increased due to the schemes of the Central Government for rural areas and increase in the production of crops.

The company plans to expand its Electric Vehicles (EV) range over the next 18-24 months. Hero MotoCorp launched its first electric scooter Vida V1 last year in two variants. The company plans to launch electric two-wheelers in various price segments. The company’s Head (Emerging Mobility Business Unit), Swadesh Srivastava said in an analyst call that the company has increased its plan for EVs. Under this, new electric two-wheelers will be launched in various segments. Company plans with electric scooters Motorcycle is also to be launched. The company can launch these vehicles from the beginning of the next financial year. Hero MotoCorp has started selling the Vida V1 electric scooter in Delhi, Jaipur and Bengaluru. It will soon be made available in other cities of the country as well.

Sales of electric two-wheelers have increased in the last few years. However, Hero MotoCorp has delayed its entry into the segment, which has benefited startups like Ather Energy and Ola Electric. E-scooters and e-bikes account for about two per cent of the total two-wheeler sales in the country. It is planned to increase this share to about 80 percent by 2030.