Hero Motocorp Confirms Foraying into Latin America

The firm will start its operations first in 3 Latin American countries - El Salvador, Honduras and Guatemala

World's largest two wheeler manufacturer, Hero Motocorp officially revealed their business plans which are expected to be executed soon in Latin America. According to the sources available in the web, it is said that the company would be focusing on three Latin American countries at first, namely El Salvador, Honduras and Guatemala. For that, the consortium has already shipped the first consignment to the Latin American continent. The Indian firm has already contracted with some local distributors for the right of dealership in these three nations. So the operations are supposed to get commenced no longer.

Hero Motocorp Logo

"The company has already started dispatching its two-wheelers to some new international markets from January. The company has finalized the distributors and channel partners in its new markets in Latin America and Africa. Hero is also set to start its operations in African markets anytime soon. In just a matter of weeks, the company will announce the launch of Brand Hero in these new markets in Latin America and Africa. Hero is also actively exploring the possibility of setting up assembly units in some of these markets once the volumes pick up," remarked an anonymous.

It was at the global brand launch event of Hero in London in 2011, Hero Motocorp revealed their plan regarding the Latin American countries. Along with Latin America, the motorcycle giant also pinned Africa, Central America and South East Asia to their architectural plan at the same event. It counts a tally of 30 countries outside India. And with this, the bi-wheeler monster aims to achieve 10% of its total volumes from international business in five years.

Hero Karizma ZMR

At present, Hero Motocorp has an annual distribution of more than 60 lakh units. According to the latest reports published on the official web page of Hero Motocorp, it spells out that the consortium had its highest ever quarterly volume sales of 15,89,286 units in the third quarter (October-December) of the financial year 2012-13. This showcases a growth of 11.3% even at the hardest crisis stage faced by the two wheeler industry.

"It is heartening to see that our sales have been in excess of half a million two-wheelers in every month of the quarter, thus further strengthening our leadership. We are well in line to meet our guidance for over six million unit sales in the fiscal 2012," said Pawan Munjal, Managing Director of Hero Motocorp.
Currently Hero Motocorp had its operations only in Sri Lanka outside the country and the procedures in the three Latin American countries are expected to be commenced by the very beginning of the coming financial year 2013-2014.
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Last updated on 30-01-2013. Published on 30-01-2013.
Published by Bikes4Sale in category News
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