The impact of the rising input costs made both Bajaj Auto and TVS Motor to hike the prices of their products in India.TVS Motor company has made a hike of 1.5-2% in the first week of April.Likewise,Bajaj Auto declared a price hike for the domestic market in the first week of April and for other countries in the beginning of May.
Regarding this,the President of TVS Motor,Mr.H.S Goindi quoted that this was on account of steel and rubber price hikes and the increase in overhead costs for suppliers.They have passed on a miniscule part of the cost increase and so they will definitely look at the price line again once they come to know the full extent of the impact by the end of May. They will take a call on further price revision in June.
On the other hand,Hero Honda is also mulling plans to increase the costs of its products. The price line for Hero Honda remains unchanged and still the company is in a mode of invigilation.Anil Dua,the Senior vice-president of Hero Honda informed that they are monitoring the commodity situation closely and keeping all their options open.