Peru is the latest South American market for Hero MotoCorp Link to News Section
Indian two wheeler giant Hero MotoCorp is on a global expansionist spree of sorts. The world's largest two wheeler maker by volumes, is targeting sales of close to 3 million two wheelers from international markets by 2017. To achieve this number, the Indian company is establishing bases in emerging markets across the world.
The latest port of call for Hero MotoCorp is the South American nation of Peru. Hero MotoCorp has tied up with local partner MOTOCORP S.A.C for its Peruvian operations. Hero MotoCorp will sell 7 two wheeler models in Peru. This line up will be sold through 85 dealerships at the outset, with more retail outlets to be set up in due course of time.
The Pleasure automatic scooter, Passion Pro 110cc commuter, the Glamour 125cc executive commuter, the Hunk 150cc sporty commuter, the Thriller 150cc on-off roader, the Karizma R and the Karizma ZMR sportsbikes, are the products that will be sold in Peru. After exiting its joint venture with Japanese two wheeler giant Honda, Hero MotoCorp can now operate in any global market.
Previously, Hero could sell its motorcycles only in Sri Lanka, Nepal and Bangladesh. The unfettered access, now available to Hero MotoCorp has seen it launching motorcycles and scooters in various countries of the world in Latin America and Africa. Apart from Peru, Hero MotoCorp has launched its motorcycle range in Colombia, Guatemala, Honduras and El Salvador.
Hero MotoCorp has also begun selling motorcycles in Africa, with an assembly facility at Kenya. The two wheeler maker has also launched its motorcycle range in other African nations such as Burkina Faso and the Ivory Coast. Hero MotoCorp aims to sell 5 crore motorcycles a year by 2020, a number that could help it stave off the volumes leadership threat from Honda.
Last edited by JayPrashanth : 22nd August 2013 at 19:22.
Reason: News Link Added
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