BENGALURU (Reuters) – Indian two-wheeler maker Hero MotoCorp Ltd said on Wednesday it would raise prices on select models of motorcycles and scooters by about 2% from April as it grapples with increased costs to meet new emission norms.
India will be implementing Bharat Stage 6 regulations from next month that require automakers to fit their vehicles with a device to check emissions, leading to extra costs.
On Tuesday, Indian automaker Tata Motors said in an exchange filing that it would increase commercial vehicle prices by 5% from April 1 for making certain changes to vehicles to adhere to the new norms.
Two-wheeler sales, an indicator of the financial health of India’s lower- to middle-income households, were up 7.6% in Feb, doubling from 3.8% in January, as per Society of Indian Automobile Manufacturers.
Hero said rural markets, which were weak last year, have been witnessing an upswing in demand.
“This augurs well for the industry as the growth momentum is expected to lead into the upcoming festive season towards the latter half of the fiscal,” it added.
(Reporting by Varun Vyas in Bengaluru; Editing by Dhanya Ann Thoppil and Anil D’Silva)
