The country's second largest two-wheeler maker Bajaj Auto today said it will hike the prices of its motorcycles by up to Rs 1,000, with effect from January 1, 2011, due to rise in input costs.
"The continued rising cost of raw material inputs is the main cause for this increase. Despite the hike, our models continue to offer superior value compared to competition, and hence we do not expect this price rise to affect sales," Bajaj Auto President (Two Wheelers) S Sridhar said in a statement.
Last week, the country's largest two-wheeler maker Hero Honda had announced to hike the prices of its models in the range of Rs 500-Rs 1,500 to offset the rising input costs.
Earlier, major car makers such as Hyundai Motor India and General Motors had also announced an increase in prices to offset the pressure from raw materials, including natural rubber.
