The country’s largest two-wheeler company Hero MotoCorp has once again decided to increase the price of its bikes and scooters. The company said that the prices of all models will be increased by up to Rs 3,000 from next week to offset the impact of rising cost. The company is going to implement the new prices from September 20, 2021.
Let us tell you that this is the third time in the year 2021, when the company has increased the prices of its vehicles. The company had earlier increased the prices of its motorcycles and scooters by up to Rs 1,500 in January and again by Rs 2,500 in April, citing increase in cost. The price hike for which bike will depend on its model. The increase in price may have an impact on the sales of the company, which is already under pressure.
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Hero MotoCorp sells a wide variety of bikes and scooters in the domestic market. The company’s wholesales in the domestic market last month stood at 4,31,137 units as against 5,68,674 units in the same month last year. The prices of various essential commodities like steel and metals have increased in the last one year. This has also increased the cost of the vehicle manufacturers. This price hike in the midst of rising petrol prices is not a good sign for the customers. This is the reason why a large number of people are shifting to electric two-wheelers.
Ola sold electric scooters worth 600 crores
Ola recently launched its first electric scooter in the domestic market, whose booking amount was kept at Rs 499. The company started the official sale of this scooter on Wednesday. According to the company, Ola electric scooters worth Rs 600 crore have been sold in 1 day itself. The company’s CEO Bhavish Aggarwal told that the company is selling 4 scooters every second.