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According to a statement released on September 29, Hero Motocorp, the nation’s top two-wheeler manufacturer, would increase the pricing of its motorbikes and scooters by 1% starting on October 3.

The price increase is part of “our regular review” of product competitiveness and positioning, which takes into account inflation, margins, and market share, according to the corporation headquartered in New Delhi.

“On October 3, 2023, Hero MotoCorp will make a minor adjustment to the ex-showroom prices of select motorcycles and scooters.” The price increase will be roughly 1%, with the actual amount varying depending on the model and market,” it stated.

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Hero Motocorp has announced a price increase for the second time in the previous three months. On July 3, the business hiked the prices of several motorbike and scooter models by 1.5 percent.

The two-wheeler manufacturer sold 4.89 lakh units in August, up from 4.63 lakh units sold in the same month the previous year.

In the Indian market, the company sold 4,72,974 units in August 2023, up from 450,740 in the previous year. international exports were 15,770 units, a considerable increase above the 11,868 units sold in the international market in August 2022.

Hero Motocorp declared a net profit of 825 crore in the fiscal quarter ended June 2023, up 32 percent from 625 crore in the previous year. Revenue was up 4.5 percent year on year to ₹8,767 crore.

The company’s stock rose 2.85 percent from the previous day’s closing to conclude the trading session on September 29 to close at 3,056.95 on the BSE.

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Kia is one of the well-known automakers in India. With the Seltos, they first entered the Indian market in 2019. Since then, customers in the sector have found it to be a popular SUV. In India, Kia presently offers the EV6, Seltos, Carens, and Sonet as entry-level models. According to recent sources, the manufacturer intends to raise the cost of several models. The popular Seltos mid-size SUV and the Carens MPV will both see price increases from Kia. The company declared that both of these models’ prices will increase starting in October of this year. Up to 2% more will be added to the cost of certain models.

During this financial year, Kia has increased prices on certain of its models a second time. Other models in the range would currently have the same price. The freshly released Seltos SUV from Kia features significant updates. The Kia Seltos’ starting price, ex-showroom, is Rs 10.89 lakh. In order to accommodate demand throughout the forthcoming holiday season, the company even unveiled two additional models last week.

In a statement to the media, Hardeep S. Brar, national head of sales and marketing for Kia India, said: “While many of the companies have already taken the price increase post-April, we, however, did not take… besides, the raw material prices are going up, and we introduced the new Seltos and a lot of investment has gone into the product, so we think it is time that we take the price increase.” Prior to this, Kia raised the price of their models in April when they modified them to meet the new RDE standards.

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When it comes to the forthcoming price increase, Kia has not specified which models would face a price hike. The cost of the cheaper models is probably going to increase by at least Rs 20,000, while the higher variants will likely experience a price increase of about Rs 40,000. The Kia Carens was released as a recreational vehicle or MPV. Due to its upscale appearance, roomy interior, and extensive feature set, it soon attracted customers’ attention. The current starting price for the Carens is Rs 10.45 lakh, ex-showroom, while the top-end variant is Rs 18.90 lakh, ex-showroom. Carens is probably going to see price increases in a manner akin to the Seltos.

There are both diesel and petrol engine options available for the Seltos and Carens. In fact, Kia is renowned for providing a range of engine and gearbox options to its consumers. A 1.5-liter petrol engine with IVT and a manual transmission is available for the Seltos. It also receives a new 1.5-liter turbocharged petrol engine with a 7-speed DCT & IMT transmission option. The 1.5-liter turbocharged diesel engine in the Seltos has a 6-speed manual or 6-speed automatic transmission as an option. Similar engine and gearbox choices are also available for the Carens. The Seltos no longer has IMT, although the Carens diesel does.

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