Hero MotoCorp targets Honda’s 80% market share in Brazil – Report
Posted on: May 11, 2017 - 10:10am IST
Hero MotoCorp has an in-house Research and Development facility in Jaipur.
With the fight between Hero MotoCorp and Honda intensifying to likes of an El Clásico, Hero wants to pick up the battle in South America too. A report in Economic Times states that Hero is developing flexi-fuel engines to enter the Brazilian market by FY-2019.
While setting shop in Argentina was comparatively easy, Brazil is different ball game as the country favours ethanol blended petrol. Hero had previously attempted to enter the Brazilian market around the Rio Olympic Games (2016) but could not execute the move. Hero MotoCorp at present has a presence in 35 nations and aims to reach a total of 50 by 2020.
Hero MotoCorp’s erstwhile partner Honda, has been present in Brazil since 1976 and claims to command an 80 percent market share. Apart from Brazil, Hero is also planning to enter Mexico.
Hero Motocorp in the financial year 2016-17 finished with a sales volume of 6,663,903 units in the domestic market, registering a growth of less than 1 percent on year on year basis.
Hero HX250R – Image Gallery
[Source: Economic Times]