Eicher Motors Ltd said it will raise prices of three of its ‘Royal Enfield’ motorbike models from Sept. 1, due to a rise in raw material costs.
Eicher will hike prices of its Standard 350, Machismo 350 and Machismo 500 models, the commercial vehicles maker said in a statement.
The price hike of 2 to 3 percent will be implemented across the country, an Eicher spokeswoman said over the phone.
There were no immediate plans to raise prices of trucks and buses, the spokeswoman said.
Earlier this month, India’s top motorbike maker Hero Honda Motors had raised prices of some models to partially offset the high input costs.
Shares of Eicher closed up 2.85 percent at 280.05 rupees in the Mumbai market.