One of the country’s leading two-wheeler manufacturers, Bajaj Auto, is likely to increase the prices of its bikes by 1-2 per cent this month following a rise in input costs, according to a senior company official. "Input costs have risen considerably. As a result, we will have to increase the prices of our vehicles. We are planning to increase them by 1-2 per cent from this month," the company's General Manager (Marketing), Milind Bade, told reporters on the sidelines of an event here.
However, the company is still working out the details of the hike, he said.
In July this year, the company had increased its prices following a rise in steel prices.
It is expected that steel prices are likely to increase by Rs 500-1,000 in the coming months following an increase in the global demand for the material.
Bade said that the company was also planning to ramp-up its production capacity to 2-million units annually by this month.