Companies

Hero MotoCorp, Volkswagen to increase prices from January

Our Bureau | | Updated on: Dec 23, 2021

Hero MotoCorp to hike prices by up to ₹2,000. | Photo Credit: ANINDITO MUKHERJEE

To partially offset the impact of steadily increasing commodity prices, say companies

The country’s largest two-wheeler company, Hero MotoCorp on Thursday said it will raise ex-showroom prices of its motorcycles and scooters, with effect from January 4 by up to ₹2,000.

“The price revision has been necessitated to partially offset the impact of steadily increasing commodity prices. The price revision will be up to ₹2,000 and the exact quantum of increase will depend on the model and the market,” the company said in a statement.

In the passenger vehicles segment, Volkswagen Passenger Cars India announced that effective January 1, it will increase prices ranging from two per cent to five per cent depending on the carline and the variant. Price hike will not be applicable to the new Tiguan, which was launched recently.

Volkswagen currently offers Polo, Vento, Taigun and Tiguan in the Indian market and will introduce a new global sedan, the second product under the India 2.0 project based on MQB A0 IN platform in early 2022.

“Our effort over the years has been to make our brand, products and services more accessible and establish Volkswagen as the brand of choice amongst our customers. Due to the substantial increase in the input and operational costs, we have decided to hike the prices of our products, keeping the impact on customers at a minimal level,” Ashish Gupta, Brand Director, Volkswagen Passenger Cars India, said.

Earlier this month, automobile majors including Maruti Suzuki India, Tata Motors, Mercedes-Benz India and Audi India had announced price hikes effective next month due to the input costs rise.

It was the fourth price increase announcement by the passenger vehicle market leader Maruti Suzuki India.

Luxury car makers Mercedes and Audi also said they will revise the prices by up to two per cent and three per cent respectively.

Published on December 23, 2021
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