Hero Motocorp Aims For Global Expansion And Maintain Its Double Digit Growth

Hero Motocorp is planning to expand its footprint in the global market and maintain its double-digit growth. The company will be using its overseas manufacturing plant at Villa Rica, Columbia, which has an annual capacity of 80,000 units as an export hub to cater to the neighbouring countries. Hero Motocorp also started production at its second overseas plant of 1,50,000 units in Jessore Bangladesh.

“We are scaling up our global business through a tailored strategy,” said a Hero Motocorp spokesman. “To begin with, we are focusing more on markets with higher potential. Currently, the highest focus is on six clusters in our global markets.”

The company has also planned to launch a number of new products, many of which are designed specifically for the global markets. “For example, we have specially designed longer-seats on Dawn 100 for the Africa market where two-wheelers are mostly used as taxis in many parts of that region,” stated the spokesman. “Additionally, we are also offering differentiated retail financing and after sales solutions in our focus markets.”

The company recorded global sales of 204,484 units of motorcycles and scooters in FY18 compared to 1, 82,117 units. The company’s global footprint now extends to 37 markets and the company clocked 27% growth in its global motorcycle sales, nearly double the growth clocked in the domestic market.