Two-wheeler major Hero MotoCorp on Wednesday said it will raise two-wheeler prices with effect from January 1, 2021.
The company cited a steady rise in commodity costs across the spectrum, including steel, aluminium, plastics, and precious metals as the reason for the upcoming price rise.
"We have already accelerated our savings programme under the 'Leap-2' umbrella, and will continue to work on mitigating the impact, with the objective to reduce the burden on the customers and protect our margins," the company said.
"In order to partially offset the impact of the commodity costs, we will be increasing the prices of our products by upto Rs 1,500, with effect from January 1, 2021. The increase will vary across models, and the exact quantum will be communicated to our dealers in due course."