Two-wheeler market leader Hero MotoCorp said it will increase prices of its motorcycles across models by about Rs 400 per model on an average from January to partially offset rising input costs, reported PTI.
The company is the latest automobile firm after Hyundai, Nissan, Mahindra & Mahindra, Volkswagen, Maruti Suzuki India, Tata Motors, Ford, Toyota Kirloskar Motor, Honda Cars India, Skoda and Isuzu, to announce price hikes from early next year.
"The price hike translates to about Rs 400 per model. The exact quantum of the increase will vary, basis the model and the specific market," Hero MotoCorp said in a statement.
The company sells a range of motorcycles starting from entry level HF Deluxe price at Rs 42,432 onwards to Karizma ZMR tagged at around Rs 1.10 lakh.
Automobile firms usually announce price hikes in December as they try to woo customers, who usually postpone purchases to acquire vehicles in the new year.