Sri Lanka and Africa appear as export markets to expand Hero MotoCorp
EconomicTimes: Sri Lanka and Africa are rapidly becoming the largest export markets for Hero MotoCorp, according to the company's vice president and general manager, Pawan Munjal.
"Sri Lanka has been a very big market for us. Recently we have seen significant volumes of this market," Munjal said on Monday. "Outside the subcontinent, African markets have also been the volume of engines for us." Hero MotoCorp is the world's largest two-wheeler manufacturer in volume. Sells its products in 22 countries, compared to only four for about a year and a half. The company targets 10 percent of total sales from overseas markets.
Later this week, Hero MotoCorp will launch its two wheels under the banner "Hero" in Colombia, South America. "We will launch six models - Splendor iSmart, Eco Deluxe, PassionPro, Glamor, Hunk and Karizma ZMR in Colombia start with 120 dealers and a plan to expand our distribution network to more than 150 outlets in one year," Said Munjal. Previously, the company sold motorcycles in the country under the former co-branded Hero Honda.
Hero MotoCorp also offers a five-year warranty on these models in Colombia, becoming the first two-wheeled company in this country to do so. With an annual volume of about 650,000 units, Colombia is one of the three largest markets in Latin America; The other two are Brazil and Argentina.
Hero's products are currently sold in Peru, Ecuador and Colombia in South America, Guatemala, Honduras, El Salvador and Nicaragua in Central America, Kenya, Mozambique, Tanzania and Uganda in East Africa , Burkina Faso, Ivory Coast, Democratic Republic of the Congo and Angola in West Africa and Ethiopia in North Africa.
The company will also be installed in Europe in 2015 and in the United States and Brazil one year later. According to Munjal, Hero MotoCorp is setting up two overseas manufacturing plants in Colombia and Bangladesh to be operational in 2015-16. Hero MotoCorp has also set up assembly units in Kenya, Tanzania and Uganda, in partnership with local distributors. In July of this year, Hero MotoCorp established a wholly-owned subsidiary in Colombia and began to build A manufacturing plant in the country before