Hero MotoCorp to increase prices by up to Rs 1,500 in the new year

New Delhi: The country’s largest two-wheeler maker Hero MotoCorp Wednesday said it will increase prices across its products by up to Rs 1500 in the new year to offset partially increase in commodity costs.

“There has been a steady rise in commodity costs across the spectrum, including steel, aluminium, plastics, and precious metals. We have already accelerated our savings programme under the Leap-2 umbrella, and will continue to work on mitigating the impact, with the objective to reduce the burden on the customers and protect our margins”, the company said in a statement.

However, in order to partially offset the impact of the commodity costs, the company will be increasing the prices of its products by up to Rs. 1500, with effect from January 1, 2021. The increase will vary across models, and the exact quantum will be communicated to dealers in due course.