Two wheeler major Bajaj Auto on Friday said that it is planning to increase prices of its vehicles across segments due to rise in input costs.
'It seems likely that we have to raise prices because commodity prices have gone up significantly, partly owing to the way forex has moved. So, I think, yes, we are looking at a price increase,' Bajaj Auto Managing Director Rajiv Bajaj told reporters here.
He was speaking on the sidelines of an AIMA event here.
'We have not decided how much and when but it is inevitable that in the near term there will be a price increase,' he added.
When asked about the previous price hike, Rajiv Bajaj said the company had last increased prices of its vehicles five to six months ago, and the rupee at that time was close to 53-54 against the dollar.
'That (rupee value) has changed significantly, and as a result domestic players have increased prices of their products. So, there is a lot of cost pressure,' he added.
On being asked if the price rise would cover the entire range of products, Bajaj said: 'It would be across most products because when the commodities (prices) go up, they affect all the segments.'
On new launches, Bajaj said the company will be launching new variants of Pulsar and Discover in next three months.
When asked if the company is upbeat on the effect of monsoon on sales figure, he said, 'It is hard to say. So far, we do not see any tangible signs of change, although we see lot of hope. Next two months will be good for obvious reasons.But, I am concerned about how the demand would shape up from December.
'It seems likely that we have to raise prices because commodity prices have gone up significantly, partly owing to the way forex has moved. So, I think, yes, we are looking at a price increase,' Bajaj Auto Managing Director Rajiv Bajaj told reporters here.
He was speaking on the sidelines of an AIMA event here.
'We have not decided how much and when but it is inevitable that in the near term there will be a price increase,' he added.
When asked about the previous price hike, Rajiv Bajaj said the company had last increased prices of its vehicles five to six months ago, and the rupee at that time was close to 53-54 against the dollar.
'That (rupee value) has changed significantly, and as a result domestic players have increased prices of their products. So, there is a lot of cost pressure,' he added.
On being asked if the price rise would cover the entire range of products, Bajaj said: 'It would be across most products because when the commodities (prices) go up, they affect all the segments.'
On new launches, Bajaj said the company will be launching new variants of Pulsar and Discover in next three months.
When asked if the company is upbeat on the effect of monsoon on sales figure, he said, 'It is hard to say. So far, we do not see any tangible signs of change, although we see lot of hope. Next two months will be good for obvious reasons.But, I am concerned about how the demand would shape up from December.