Hero MotoCorp has announced a price hike across its range of scooters and motorcycles. The hike will be applicable from 1st April, 2023 on new retails.
Reason for the price hike
According to Hero, the main reason for the hike is cost escalation due to the new emissions norms. The norms have necessitated migration to OBD 2. To tide over the hike amount, Hero is working with its finance partners to offer tailor-made solutions to reduce the impact on the customers.
The price hike is inthe range of 2 percent across the range. Hero will reveal the exact hike later as it will vary as per the models and across the regions.
Hero’s growth in rural markets
Thanks to the government schemes regarding social sectors and good agricultural output, demand for Hero two wheelers has been positive. Infact, Hero has seen an increase in sales. Infact even the two wheeler industry has seen upward sales. Hero expects this to continue through the festive season in the later half of 2023.
Rural sales can be called as the bread and butter for the two-wheeler segment. Up swings and down swings here are a direct result of the overall performance of a brand. Hence, this news brings about cheer to the Hero as a company.
Hero’s plan for Karizma
Hero MotoCorp is working to bring back the iconic Karizma nameplate. This motorcycle will be based on an all-new generation and come with a brand new engine and chassis.
Karizma was a very popular motorcycle. It had one of the highest brand values in the Indian motorcycle space. Many youngsters considered this as an iconic bike and even looked up to owning one someday. However, the facelift in 2014 didn’t get a response as good as the original bike. Hence this led to eventual discontinuation of the Karizma R and ZMR.