Two-wheeler major Hero MotoCorp recently announced that it will be revising up the ex-showroom prices of its motorcycles and scooters effective April 5. According to the company, the upward revision was necessary to partially offset the impact of the increase in commodity prices.
“The price adjustment will be up to Rs. 2,000 and the exact extent of the increase depends on the specific model and the market,” the company said in a statement.
On Saturday, automaker Toyota Kirloskar Motor (TKM) announced that it will raise the prices of its models by up to 4 percent starting April 1. The company said this price increase was due to rising input costs, including raw material costs.
“As a committed and customer-centric company, TKM has made every conscious effort to minimize the impact of rising costs on consumers,” a TKM spokesman said in a statement.
Luxury car maker BMW India has announced that it will increase prices across its entire model range by up to 3.5 percent effective April 1.
The price increase is implemented to adjust for material and logistics costs, the impact of the current geopolitical situation and exchange rates, the company said.
Earlier, another luxury automaker, Mercedes-Benz India, announced an upward price revision of its entire model range effective April 1. According to Mercedes-Benz India, the upcoming price correction would be in the range of 3 percent across the entire model range. The steady increase in input prices and an increase in logistics rates put considerable pressure on the company’s overall costs.
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