Hero MotoCorp to Increase Prices of Motorcycles and Scooters from July 2024

New Delhi [India], June 24, 2024: Hero MotoCorp, one of India’s leading two-wheeler manufacturers, has announced a price increase for its motorcycles and scooters starting from July 1, 2024. The company shared this information in a filing to the exchange on Monday.

Price Increase Details

Hero MotoCorp will raise the ex-showroom prices of select motorcycles and scooters by up to Rs 1,500. The exact amount of the increase will vary depending on the specific model and market. The company explained that this price adjustment is necessary to offset rising input costs associated with manufacturing.

Sales Performance

In May 2024, Hero MotoCorp experienced a decline in sales compared to May 2023. The company sold 498,123 units in May 2024, down from 519,474 units in May 2023. This decline was seen in both the scooter and motorcycle segments. Scooter sales fell to 26,937 units in May 2024 from 30,138 units in May 2023, while motorcycle sales dropped to 471,186 units from 489,336 units in the same period.

However, Hero MotoCorp saw growth in export sales, with exports increasing from 11,165 units in May 2023 to 18,673 units in May 2024.