Hero MotoCorp on Friday (September 29) declared that it will increase prices of selective motorcycles and scooters by around 1 per cent from October 3 (Tuesday). The company will make a marginal revision in the ex-showroom prices of select motorcycles and scooters, effective from October 3, 2023, the country's largest two-wheeler maker said in a statement.
The price increase will be around 1 per cent, and the exact quantum of increase will vary by specific models and markets, it added. The price revision is part of our regular review of product competitiveness and positioning, factoring inflation, margins and market share, the company stated.
The manufacturer is yet to share the list of models which will see an increase in price in this latest hike.
Hero MotoCorp approves Rs 550 crore investment in Ather Energy:
Earlier in the month, Hero MotoCorp said it will invest an additional Rs 550 crore in Ather Energy. The company's board, at its meeting held on September 4, has approved an investment of up to Rs 550 crore in the Rights issue of Ather Energy, Hero MotoCorp said in a regulatory filing.
The investment is subject to the execution of definitive documents and completion of certain conditions customary to a transaction of this nature, it added. Prior to the proposed investment, Hero MotoCorp's shareholding in Ather stood at 33.1 per cent, the country's largest two-wheeler said.