Hero MotoCorp is currently present in 35 countries across the world; aims to become market leader in Bangladesh
India’s biggest two-wheeler manufacturer Hero MotoCorp aims to grow bigger in global market by entering more new countries in coming days. The brand aims to expand its reach to 50 countries across the world by 2020, compared to current 35 markets. Also, the brand targets to sharpen its presence in the countries, where the brand is performing well.
One such country is Bangladesh, where Hero MotoCorp is experiencing impressive sales thanks to the competitive pricing of its commuter products there. The two-wheeler major clearly wants to grab the leading position in the country. As Hero MotoCorp chairman, MD and CEO Pawan Munjal says, currently the company wants to focus on those counties where it is already present.
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Also, under its global strategy, Hero Moto Corp aims to enter the large sized markets where the brand will have chance to increase volumes and therefore market share as well improving the overall global business. The brand didn’t clearly mention about which countries are in focus, but it revealed several Latin American countries including Colombia and some African countries too are in its radar.
Hero sees opportunity in African markets where the demands for low-cost commuter products are high. It is already present in couple of African markets and wants to expand the reach with new products and entering new countries as well and the strategy is similar for Latin American markets as well. Earlier this year, Hero entered Argentina, where it garnered pretty good response. Overall, it aims to sell a whopping 100 million units across the globe by 2020.
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Not only entering new markets across the world, Hero MotoCorp is also focusing on building new production facilities around the world in order to boost its business. The two-wheeler manufacturer plans to set up 20 manufacturing facilities in different countries across the globe by 2020. However, it is not clear yet, in which countries it will set up the new production facilities.