According to the latest statement from Hero Honda, part of its product range will be expensive by up to Rs. 1000 with immediate effect. The company attributed the rise in prices owing to the escalating input costs. "We have not taken any price hike due to commodity costs since August, 2008, but the burden has increased very much recently and we are passing it partially to the consumers," Hero Honda Senior Vice-President (Marketing and Sales) Anil Dua said.
While the company is expecting the situation to improve in the coming months but the prices of commodities like steel and rubber have risen to new heights in the past months and hence are forcing the automakers to announce a hike in their portfolios.
Hero Honda Hunk and CBZ will be expensive by Rs. 1000 while other models will be costlier by Rs. 500. However, its best-selling Splendor and Karizma have been not included in this round of hike.
