After car buyers, two- wheeler purchasers will feel the heat.Most two- wheeler companies are planning to increase prices by 6- 12 per cent from April 1 to offset the high input cost and the hike is excise duty.
Most two- wheeler companies like Hero MotoCorp, Honda Motorcycles and Scooters India has already announced their decision to hike the price post budget. The country’s largest two- wheeler manufacturer Hero MotoCorp has announced increase in prices of its products from ` 600 to ` 2,000.
Now, it is the term of others like Suzuki, TVS, Yamaha and Bajaj Auto to follow suit. “ Last few months have seen a steep hike in the input cost but most two- wheeler companies had been holding prices for long.
After the hike in excise duty, there is no way out for the companies but to pass it on to customers,” a senior executive from TVS Motor said.
According to two- wheeler companies, most of the price hike will be in the range of 6- 10 per cent depending on models.
TVS Motor has also announced increase in price of its motorcycles and scooters from April 1 onwards. Scooters will see a rise of ` 780 to ` 900 while motorcycles will be dearer by ` 780 to ` 1,580.
Honda Motorcycles and Scooters India has already announced increase in prices of its motorcycles in the range of ` 883 to ` 3,400. For its scooters, the company has increased the price by ` 826- ` 996.
Auto manufacturers fear that this new hike may affect the sales of the two- wheeler segment. “ The growth of twowheeler industry has come down sharply in the recent months and with this increase in prices, we may see further slowdown,” S. Sandilya, president, Society of Indian Automobile Manufacturers, said.