India’s main two-wheeler manufacturer Hero MotoCorp recently announced that it will increase the prices of select fashions in its portfolio beginning April 1, 2023.
The price revision will be around 2% and the specific quantum of increase will vary by specific models and markets. The revision is being carried out due to the improve in costs on the back of the OBD 2 transition.
OBD 2 is a more advanced diagnostic system for vehicles. Which is mandatory in India for all new vehicles sold in India from April 1, 2023.
Despite the price revision, Hero MotoCorp is optimistic about the progress prospects of the two-wheeler industry in rural markets. Rural markets in India have been witnessing robust demand, which is a strong indicator of wholesome crops.