Hero MotoCorp to Enter Mexico, Argentina and Nigeria this Year

Hero MotoCorp, India’s largest two-wheeler manufacturer is set to achieve yet another milestone. The company is planning to expand its global territory by entering into three new markets - Argentina, Mexico and Nigeria by the end of this year. Confirming this, Mr. Ravi Sud, Senior Vice-President and CFO, Hero MotoCorp said, "We are looking to enter Argentina, Mexico and Nigeria by the end of this year."

Also read: Hero MotoCorp starts 1st Manufacturing Plant in Colombia

According to the manufacturer, there is a lot of potential for the two-wheeler market in these countries as currently around 20 lac units are being sold per annum. The company aims to sell 2.5 lac units in the current fiscal year globally as compared to last year sales of 2 lac units. With this, the Indian automaker is looking forward to increasing 25 percent sales internationally. In India, Hero MotoCorp holds a 46 percent market share.

Also read: Hero MotoCorp Expansion Plan, to Start Production in Mexico, Argentina and Brazil

Hero MotoCorp already has a footprint in 24 countries including Colombia, Sri Lanka, Turkey, Egypt, Nepal, Bangladesh, Peru and Ecuador. Furthermore, it has also established its assembly units across the globe in partnership with the local distributor in Kenya, Tanzania and Uganda. In September 2015, Hero also started its first international plant situated at Villa Rica in Colombia that has a production capacity of 3000 units per month at present. Internationally, the company is also performing well and has shown constant growth over the years.  

Also read: Hero MotorCorp to Launch Dash in Colombia