After having been relatively dormant for the whole of this year, Hero Motocorp is gearing up for a massive product onslaught starting from September.
On the sidelines of rolling out the 50 millionth motorcycle yesterday, Pawan Munjal, MD and CEO of Hero Motocorp said -
In next two quarters, we plan to offer more than a dozen new products to our customers. We are now ready, we will be up and running from September.
The details of the new products are unclear as of now but expect the company to cover almost all the segments including scooters. With former partner Honda slowly but steadily increasing its market share as a result of new products, it's imperative for Hero to replenish its arsenal.
New products is only a part of Hero's strategy to stay No. 1. The world's largest bike maker (in terms of volume) is looking seriously at global expansion. By 2020, Hero plans to be present in 50 international markets and set up 20 assembly lines spread across the globe.
In the short term, the company targets 15 new markets and 6 assembly lines across three continents by next year. Until now, Hero's export markets were restricted to Columbia and our neighbors Sri Lanka, Nepal and Bangladesh but recently Hero entered new markets in Central America and Africa (with a local assembly plant in Kenya).
If things go as per plan, Hero Motocorp would be looking at a phenomenal annual turnover of Rs. 60,000 crore by 2020!
[Source: Economic Times]