Hero MotoCorp (Hero Bikes Price) company said on November 25 that they are increasing vehicle prices. It is clear that ex-showroom prices will increase with this. It has been revealed that the reason for this is the rising costs in the background of high inflation.
In this context, Hero MotoCorp Chief Financial Officer (CFO) Niranjan Gupta, who announced the price hike, made key comments. He said that due to the effect of high inflation, the Hero company had to revise the prices of its bikes and scooters. But Gupta said that we will continue the policies to reduce the impact of this price increase on the customers and bring innovative financial solutions. He also expressed hope that the accelerated savings programs will be continued and that there will be a good demand and the industry will also pick up in the coming period.
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The share price of Hero MotoCorp in the stock market has also increased a bit recently. It closed the session at Rs.2711.85, up 1.47 percent in the Friday session. The stock has been rising even after the announcement of the price hike. Currently, it is trading at Rs 2,766, up by another 2 percent even at the time of writing this news.
Hero MotoCorp has increased the prices of bikes and scooters this September as well. However, it was announced at that time that the reason for this was the effect of high inflation and the prices of auto parts were increasing. Recently, the profit of this company has decreased in the second quarter ended September 30. A profit of Rs.682 crore has been recorded, falling by 9 percent. This is due to falling sales. At the same time last year, Hero MotoCorp’s profit was recorded at Rs.748 crore. And operations revenue in this quarter is Rs. 9,158 crores. However, last year this number was Rs. 8,539 crores. With this, it seems that the income has increased.
However, Hero MotoCorp said that the prices of bikes and scooters had to be increased in the face of increasing prices of vehicle parts. With this, other two-wheeler companies are also likely to increase vehicle prices. So market experts suggest that those who want to buy a new bike should buy it as soon as possible.
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