Hero Honda raises prices by up to Rs 1,000

The country's largest two-wheeler maker, Hero Honda, on Tuesday said it has increased the prices of its products by up to Rs 1,000 with immediate effect due to rising input costs.

"We have not taken any price hike due to commodity costs since August, 2008, but the burden has increased very much recently and we are passing it partially to the consumers," Hero Honda Senior Vice-President (Marketing and Sales) Anil Dua told PTI.

The company has hiked the prices of different models by either Rs 500 or Rs 1,000. While its Hunk and CBZ will be costlier by Rs 1,000, most other models will be dearer by Rs 500, he added.

However, there will be no hike in the prices of its flagship model, Splendor, and premium bike Karizma. "Steel prices have risen very much in the last couple of months and tyre prices are also moving upwards. Rubber prices are really hardening," Dua said.

He, however, said the company is expecting the situation to improve in the coming months.