Companies have increased prices between Rs 300-Rs 3000 on their products in June-July to make up for input costs arising out of new safety features, higher import duty on parts and add-on features on existing range.
Chennai: Despite battling a demand slowdown, top two wheeler companies are taking small price hikes to counter cost increases and marketing expenses.
Companies including Hero MotoCorp, Honda Motorcycle and Scooter India (HMSI), Bajaj Auto, TVS Motor and Suzuki Motorcycle India have all increased prices between Rs 300-Rs 3000 on their products in June-July to make up for input costs arising out of new safety features, higher import duty on parts and add-on features on existing range.
Lifestyle brands like Royal Enfield, however, are not going for mark ups because their price lines are already much higher than utility bikes and scooters.
The price hikes are small and focused on products that can absorb the impact. “We have increased prices marginally effective August 1. Our scooter prices have gone up by Rs 500 ex-showroom on account of increased cost of production.
We have not taken any price hikes on motorcycles. We increased motorcycle prices marginally two months ago. We don’t anticipate any more hikes till the BS6 roll out in April 2020,” said Devashish Handa, VP, Suzuki Motorcycle India.
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