The economy of many countries, including India, has been badly affected by the spread of corona infection. Sectors such as construction, tourism and trade have been affected. Importantly, the automobile market is facing a sharp decline due to the Corona spread. All shops were closed as curfews were imposed in various states. Vehicle sales also fell.
Hero Motor Corp, India’s largest two-wheeler maker, saw its May sales fall 51 percent. The company had sold only 1 lakh 83 thousand 44 vehicles in May . In this regard, Hero Motor Corp has announced that it will increase the prices of bikes and scooters from July 1.
The company explained that the price hike was a result of rising production costs. The company also said it would take austerity measures to avoid further harm to customers. Price increases may vary depending on the model of the vehicle . It has been said that the price will be increased up to a maximum of 3 thousand rupees.
This is the third time in a row that Hero MotoCorp’s vehicle prices have risen. Hero MotoCorp had earlier raised the prices of its vehicles in January and April this year.
Maruti Suzuki has also recently announced that it will increase the price of its cars in the second quarter of the current year. Renault and Nissan increased the prices of their vehicles last April.