Hero MotoCorp targets 10 new markets in Latin America and Africa by March 2013
By the end of March this year, Hero MotoCorp, the country’s major two wheeler manufacturer, will be expanding markets in both Latin America and Africa.
The trusted two wheeler manufacturer wants to expand its horizon by increasing increased exports and launching new products in additional markets. All these ventures are part of the company’s endeavor to increase exports to 1 million units by 2016-17. As on date, the company exports its products to Colombia in Latin America and though the company did not specify these new markets, they did however confirm that a major expansion spree was on its way.
Hero MotoCorp has already commenced operations in the Honduras, Guatemala and El Salvador while they are also targeting four to five African cities in the coming month. Once these markets prove to be advantageous, the company is also planning to set up exclusive assembly plants in these places. Latin American countries predominantly depend on Japanese manufacturers such as Honda, Yamaha, Suzuki and Kawasaki but now Hero MotoCorp has jumped into the fray with major expansion and export plans.