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

The prices of motorcycles and scooters of Hero MotoCorp, one of the big 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 increase in input costs.

Hero MotoCorp has a major share in the motorcycles market. 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 increased rapidly in the last few years. However, Hero MotoCorp has delayed entering this segment.

Recently, the company’s Chief Business Officer (Emerging Mobility), Swadesh Srivastava had said that new electric two-wheelers will 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 interoperable EV charging network. This will make more than 2,000 charging points available for Hero MotoCorp customers in approximately 200 cities.

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 various segments. The battery of the company’s V1 Pro is 3.94 kWh and range is 165 kilometers, while the battery of V1 Plus is 3.44 kWh and range is about 143 kilometers. It competes with Ola Electric’s S1 Pro and Ather Energy’s 450X. In the last financial year, Hero MotoCorp’s sales had increased to 56,21,455 units. The company had registered an increase of about 10 percent in sales in the fourth quarter of the last financial year. Hero MotoCorp plans to start business in Europe and Britain. It has appointed new distributors in Costa Rica and Nepal.