 "Hero MotoCorp to hike prices from Dec 1 due to inflationary costs")
The country's largest two-wheeler maker Hero MotoCorp on Friday said it will increase the prices of its motorcycles and scooters by up to Rs 1,500, with effect from December 1.
The price will increase up to Rs 1,500, and the exact quantum of the hike will vary by specific models and markets, the company said in a statement.
"The upward revision of the prices of our motorcycles and scooters has been necessitated due to overall inflationary costs," Hero MotoCorp Chief Financial Officer Niranjan Gupta said.
The company will continue to provide innovative financing solutions in order to cushion the impact on the customers, he added.
"We have also put in place accelerated savings programmes, which will help us to offset any further cost impact, and drive improvement in margins," the two-wheeler major said.
Moving forward, the economic indicators are favourable to a growth in demand, and the company expects industry volumes to pick up in coming quarters, it added.