Hero Motocorp has raised prices four times in 2022, affecting Glamour, HF Deluxe, Hero Splendor, HF 100 and others.
Hero Motocorp has announced to increase the prices of its motorcycles and scooters from December 1, 2022. The Indian manufacturer has announced a price increase of up to Rs 1,500 for its two-wheelers. However, this number might shift depending on the model you select. Manufacturers have been blamed for the price increases since inflationary pressures have compelled them to implement new cost-cutting measures.
Hero MotoCorp's price increase in December 2022 will affect almost all of their two-wheelers, including best-sellers like the HF Deluxe, Pleasure, Splendor, Passion, Destini, etc.
OEMs normally aim to absorb growing cost inflation as much as possible, because it has potential to damage sales. OEMs may streamline operations and lower manufacturing cost to cope with escalating cost inflation. The overarching goal is to reduce the burden on shoppers as much as possible. Though, unfortunately, price hikes are sometimes unavoidable. In most cases, this is done for the sake of the company's long-term viability.
As a measure to soften the effect of price rise on customers, Hero MotoCorp has announced that it would continue to offer innovative financing alternatives. It will probably include the choice of a low down payment and reasonable interest rates. One level above, dealers may also have access to discounts.
Hero has also established online exchange programme, which is another wonderful option to minimise total cost of buying. The exchange programme includes most scooters and motorbikes that are less than 15 years old. Users merely need to give basic data about the state of their bike to obtain a quick quotation on the exchange value. Hero’s exchange programme is a big aid to people wishing to purchase a new bike or upgrade to a higher capacity model.
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Hero has implemented a brisk cost-cutting initiative to shield customers from any future price increases. Additionally, it will boost the company's bottom line by improving margins and cushioning the blow of any future cost increases. The current economic climate has Hero anticipating further growth in the two-wheeled vehicle market. It expects sales to rise in the future quarters.
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 "Photo: Hero MotoCorp")
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