Hero Motocorp to Increase Prices of Motorcycles and Scooters from Next Month

Prices of motorcycles and scooters of Hero MotoCorp, one of the largest two-wheeler companies, will increase from next month. The company has said that the prices of its entire range will be increased by up to Rs 1,500. This decision has been taken due to the increase in input costs.

Hero MotoCorp has a large market share in the motorcycles. Its motorcycles like Splendor, Passion and Glamor are sold in large numbers. It also exports motorcycles and scooters to many countries. The company is preparing to launch new electric scooters under its Vida sub-brand. It sells two electric scooters. Sales of electric two-wheelers have grown rapidly in the last few years. However, Hero MotoCorp has been late in entering this segment.

Recently, the company’s Chief Business Officer (Emerging Mobility), Swadesh Srivastava had said that new electric two-wheelers would be launched in the first half of the current financial year. He had said, “We are planning to achieve more growth this year. Along with this, the cost structure will also be improved.” Hero MotoCorp has expanded the Vida brand to more than 120 cities. It has also tied up with Ather Energy for an interoperable EV charging network. This will make more than 2,000 charging points available in about 200 cities for Hero MotoCorp customers.

The company launched Vida V1 in two variants. The company plans to launch electric two-wheelers in different price segments. Under this, new electric two-wheelers will be launched in different segments. The company’s V1 Pro has a battery of 3.94 kWh and a range of 165 km, while the V1 Plus has a battery of 3.44 kWh and a range of about 143 km. It competes with Ola Electric’s S1 Pro and Ather Energy’s 450X. Hero MotoCorp’s sales increased to 56,21,455 units in the last financial year. The company registered a growth of about 10 percent in sales in the fourth quarter of the last financial year. Hero MotoCorp plans to start business in Europe and the UK. It has appointed new distributors in Costa Rica and Nepal.