Financial Daily from THE HINDU group of publications
Saturday, Apr 02, 2005
Financial Daily from THE HINDU group of publications Saturday, Apr 02, 2005 |
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Corporate
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Announcements Hero Honda hikes prices Our Bureau
New Delhi , April 1 HERO Honda on Friday announced its first price hike in five years and said it would increase the prices of all but two of its models by Rs 500 to Rs 1,175. The company's Rs 1001 off celebration offer too ceased from April 1. Mr Atul Sobti, Executive Director (business operations), Hero Honda, said prices have been increased on all models except CD-Dawn and Splendor Plus. "Importantly, we have also made the prices uniform in all States where the value-added-tax regime is in place," he said. According to industry analysts, the price hikes were implemented to offset the pressure on margins due to growing prices of key raw materials. Operating margins of all auto companies, including Hero Honda, have come under pressure in recent quarters due to the rising cost of steel and other materials.
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