Report – Sri Lanka, Africa are fast growing export markets for Hero Motocorp
Posted on: Nov 25, 2014 - 12:02pm IST
Latin America is also in focus.
The fact that Hero Motocorp was the title sponsor for the 2014 Colombo Motor Show comes as a little surprise as the little island to the south is emerging as one of the brand’s top export destinations.
Talking to ET Auto, Pawan Munjal, vice-chairman and managing director, Hero Motocorp, revealed that Sri Lanka and Africa are the fastest growing export markets for the company. He added that the Hero has seen large volumes in Sri Lanka in the recent times and Africa is catching up too.
The two wheeler giant is expanding its global presence aggressively. The company is currently selling its products in 22 countries worldwide compared to just four markets a few years ago. The target for 2020 is to be present in 50 markets with significant manufacturing presence in several countries.
Coming back to Sri Lanka, Hero Motocorp had the biggest two wheeler stall at the Colombo Motor Show and had products like the Hero CD Dawn, Pleasure, Dash, Karizma R, Xtreme Sport and Hunk on display.
In addition to top international markets, the company is also focusing on markets like Colombia where a manufacturing facility is under construction and Brazil, a market which needs to be approached with flex-fuel engined products.
Mr. Munjal announced that Hero will be launching the Splendor iSmart, Eco Deluxe, Passion-Pro, Glamour, Hunk and Karizma ZMR in Colombia with 120 outlets initially. The dealership count will be increased to over 150 in a year.