The company said that the reason behind this increase in the prices of motorcycles and scooters is the pressure of input costs and business-related reasons. The company expects economic indicators to strengthen due to normal monsoon in most parts of the country. This may also increase the demand for vehicles. Hero MotoCorp said that volumes for the industry are expected to increase in the upcoming festive season. Recently the company launched Passion Plus in the low price segment of motorcycles. Along with this, the company has introduced Xtreme 160 4V in the premium segment. The starting price of Xtreme 160R 4V is Rs 1,27,300 (ex-showroom). It will be available in three variants and three colors.
This year the company is planning to launch some new motorcycles. These may also include Karizma XMR 210. Hero MotoCorp plans to increase its presence in the powerful motorcycles segment. The company wants to strengthen its position in the category above 160 cc. It is also focusing on launching new products every quarter.
Recently, the company’s CEO, Niranjan Gupta had said that Hero MotoCorp will launch at least one new product every quarter. The company has tied up with Harley-Davidson to develop premium products. Hero MotoCorp will compete with Baja-Triumph in this segment. Along with this, Hero MotoCorp also plans to bring updated versions of its existing products. The company’s sales last month had increased by seven percent to 5,19,474 units. In the same period last year it was 4,86,704 units. The company’s motorcycle sales increased to 4,89,336 units. It was 4,52,246 units in the same month last year. However, its scooter sales declined to 30,138 units from 34,458 units in the same period last year.