Latin America is sweeping in many bike makers of the world as one of the thronging markets for entry level segment. This same kind of situation is seen in Africa and many other Asian regions. Key segment has occupied much of the market space because of easy affordability.
Hero Motocorp now forays into Latin part of America comprising countries like El Salvador, Guatemala and Honduras, along with expectations of 30 more localities on the global map. It is a part of five years organizational plan which states an increase of 10% volume in international presence.
As per some of the sources, a package of two-wheeler is dispatched last week to the desired market. It is also learnt that Pawan Munjal, top brass of Hero Motocorp, is also marking Central America, Africa and South East Asia as some of its future steps.
Names of overseas dealership have not yet emerged but a spokesperson for Hero said, “We will make an announcement with all relevant details of our new international markets very soon, but closer to the time.”
Latin America is majorly played by Kawasaki which confirms a 40% market share by chasing other bike makers like Honda, Yamaha and Suzuki with some pro active Chinese manufacturers at the grass root level.
To an extent, Hero Motocorp enjoys existence in Columbia by a limited circumference.