Hero MotoCorp reports 3% rise in September sales; announces 1% hike in prices

3 Oct 2023 , 11:32 AM

Hero MotoCorp Limited fell 1% in the morning of October 3 after the two-wheeler reported sales of 5,36,499 units in September 2023, a 3% increase over the previous year. In September 2022, the automaker sold 519,980 units.

As the country approaches the peak festive season in the coming week, India’s largest motorbike manufacturer anticipates demand to be on a healthy trajectory led by favorable macroeconomic factors, the company stated in an exchange filing.

The automaker also informed the bourses that it would marginally increase the ex-showroom prices of various motorcycles and scooters from October 3.

The price increase would be roughly around 1%, with the exact amount depending on the model and the market. ‘The price hike is part of our regular product review of competitiveness and positioning, factoring inflation, margins, and market share,’ the car maker stated.

Previously, as the promotional offer for its recently released flagship Karizma XMR expired, the manufacturer announced a Rs 7,000 price rise to Rs 1,79,900 (ex-showroom, Delhi) from October 1.

At around 11:30 AM, Hero MotoCorp was trading 1.13% lower at Rs 3,022.65 per piece, against the previous close of Rs 3,057.25 on NSE.

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