Hero MotoCorp has kicked off its business activities in 3 countries of Latin America, namely El Salvador, Honduras and Guatemala. With this move, the auto maker is planning to garner 10 per cent of its total sales from the international market five years down the line. Besides, the auto maker is looking ahead to mark presence in around 30 countries of the world.
Reportedly, Hero MotoCorp had already shipped its first consignment to all the mentioned 3 countries off late. The auto maker has also finalised its channel partners and dealers in the new auto markets of Latin America. According to sources, Hero MotoCorp is also eying to kick off the operations in the African auto markets anytime soon.
The auto company is looking for possibilities to establish assembly units in few overseas markets, if the demand in respective regions picks up the pace. With this initiative, Hero MotoCorp has marked the beginning of its ambitious worldwide plans, which it has been looking for sometime after separating from its former partner, Honda. The plans of two-wheeler include the expansion of footprints in Africa, Latin America, Central America and South-East Asia in a few couple of years. Reportedly, this expansion strategy was initially declared in August 2011 at Hero's global brand launch ceremony in London.
Auto analysts believe that with its aggressive expansion plans, it will soon carve a niche on the international platform. It must be noted that Hero MotoCorp faced some difficulties and issues after the separation from its erstwhile partner albeit, it is still banking on a dominant position in the motorcycle segment of the Indian auto market. The two-wheeler maker has pinned great hopes with its international plans and the industry experts are expecting that the tides will soon turn in its favour.
