Hero MotoCorp launches its range of two-wheelers in Central America

Team OD Published: May 15, 2013, 11:22 AM IST

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Hero MotoCorp has launched its range of two-wheelers in Honduras, El Salvador and Guatemala. Noted importers of two-wheelers Indy Motos Group has been appointed as the authorized distributor for its products by Hero. Indy Motos Group will be adding more outlets to its already existing ones which sell Hero range of motorcycles. The range of Hero two-wheelers being launched in these markets include the Hunk, Karizma, Glamour, HF Dawn, Splendor NXG, Super Splendor and Achiever. Hero is also set to enter  other international markets like Africa, Latin and Central America. The company aims to achieve 10 per cent of its total sales volumes from international markets within the next five years. As of now, Hero exports to international markets like Nepal, Bangladesh, Sri Lanka and Colombia.

Sales for Hero motorcycles in Q4 of financial year 2013 stood at 15,27,351 units while the total turnover was Rs 6145.75 crores. The total turnover also includes net sales and other operating income. The company also recently hiked the price of its models in the range of Rs 500 to Rs 1500. Additionally, there was also an increase in the warranty of its products to five years, across range.

Pawan Munjal, managing director and chief executive officer of Hero MotoCorp Ltd said, "This launch is a significant milestone for us considering this is the first of the new international markets where we are starting our operations. It is indicative of the significant role that markets in Central America and Latin America will play in our global expansion plans. It gives me immense pleasure to announce Indy Motos as our partner for Guatemala, Honduras and El Salvador. I am sure that their rich experience in this market and knowledge of the local customer will go a long way towards further strengthening our business here."

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