The company has revised the prices of its products on the basis of model and market and has increased the prices of vehicles up to a maximum of Rs 3,000. Hero MotoCorp has attributed the increase in the price to the ever-increasing overall cost including the prices of the items.
Hero Motocorp dominates the market with its massive business. As the company’s monthly sales cross lakhs of units, this price hike by the company directly affects lakhs of customers. In May 2022, Hero Motocorp recorded domestic sales of 4,66,466 units.
Hero Motocorp’s overall domestic two-wheeler sales grew 17 percent month-on-month as compared to 3,98,490 units last month. The company had registered total sales of 1,59,561 units in the domestic market in May 2021, registering a year-on-year growth of 192 per cent.
In May 2022, the company has exported a total of 20,238 units, while in May last year, the company sent a total of 20,132 units of vehicles to the overseas markets. Hero Motocorp expects double-digit volume growth of 11 per cent in FY2023, according to a company statement.
Let us tell you that Hero Motocorp is also preparing to enter the electric two-wheeler market in India. Earlier information was revealed that the company is going to launch its Hero Vida electric scooter in the market soon, but earlier this month information came out that it will take some more time to launch.
It is being told that now the launch of Hero Vida electric scooter has been postponed till this year’s festive season. Hero MotoCorp is about to bring an electric scooter under the Vida brand, a teaser of which was released in August last year and was to be unveiled on July 1.
Hero Motocorp was preparing to bring electric scooters for a long time, but Hero’s name has currently gone to Hero Electric, so the company is going to bring Vida brand, under which electric vehicles will be launched. Along with introducing its brand, the company will also introduce its first model in the market.