IAB Report – Hero Motocorp enters Turkey with Pleasure, Glamour, Thriller
Posted on: Feb 28, 2014 - 10:02am IST
Hero Motocorp announced its foray into Turkey with a three product portfolio. The two-wheeler giant has partnered with Asya Makina – a subsidiary of the Soysal Group – who are appointed as the distributor of the Hero Motocorp range of two-wheelers in Turkey. Initially, Hero products will be retailed through 50 sales outlets with more expected in the future.
The flagship dealership is located in the capital city of Istanbul. Hero has announced three models for the Turkish market, two motorbikes and a scooter. The scooter is the 100 cc Pleasure while the bikes are the 125 cc Glamour and the 150 cc Thriller.
By 2020, Hero plans to set foot in 50 global markets and expects overseas sales to account for 1 million units. The company is currently present in markets such as Peru, Guatemala, Honduras, El Salvador, Kenya, Burkina Faso, Ivory Coast, Sri Lanka, Nepal, Tanzania and Uganda.
Mr. Pawan Munjal, Managing Director and CEO, Hero Motocorp, said –
The commencement of our operations in Turkey is a significant milestone in our overall global expansion plans. We are aware that Turkey has a strong bikes market where customers value quality products, and our vision is to provide convenient, fuel-efficient mobility to every two-wheeler customer across Turkey. It also gives me immense pleasure to announce the choice of Soysal Group as our partner in this market. I am sure with their rich experience in this region and knowledge of the local customer, we will be able to achieve our immediate short-term goal of 5% market share in Turkey. Going forward, we will also be bringing more bikes from our wide-ranging portfolio.
Hero Motocorp Launches in Turkey – Press Release
[Head to Slideshare if you’re unable to view the document above.]