Hero MotoCorp vehicles get expensive by up to Rs 1,000

Thursday 03 May 2012, 11:57 AM by

The country’s leading bike maker Hero MotoCorp has decided to hike the price of all of its Indian portfolio models in the Indian market by up to Rs 1,000. The new raised prices are applied with the immediate effect in the Indian market. The firm has blamed rising input material costs for this price hike.

In a statement issued on Wednesday, the company said, "In order to partially off-set the rising input costs; Hero MotoCorp has raised prices on most of its products in the range of Rs 500 to Rs 1,000. This new pricing is effective from today."

In the financial year 2011-12, the country’s largest two-wheeler maker Hero MotoCorp managed to sell a total of 62,35,205 units of its vehicles in the country with total turnover surging to 23,579 crore, as against Rs 19,397 crores in the preceding financial year. In the quarter ended on 31st March, the company recorded its highest ever quarterly sales of 15,72,027 units.

The India portfolio of the Hero MotoCorp hosts a number of popular bikes including the likes of Hunk, Karizma and Glamour.

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