Hero MotoCorp has sold little over 2 lakh two-wheelers in the international market last year. The company sold 2,01,245 units in 2014 as compared to 1,35,184 units in 2013, registering close to 30 per cent growth.
The Gurgaon-based manufacturer has been focusing a lot on the international markets since it ended its alliance with Honda. It plans to do business in 50 countries by 2020.Currently, foreign sales account for a small portion of its total volume of 6.65 million units, which has increased by eight per cent from the previous year. But the company has ambitious plans to grow internationally, and is targeting as much as 10 per cent of the 12-million-unit sales it projected by 2020 to come from outside India.
As per the report, Sri Lanka has contributed the largest sales, followed by Bangladesh and Latin America. The company also sells its products in South America, Egypt, Turkey, Nepal, Kenya, Mozambique, Tanzania and Uganda in East Africa, Burkina Faso, Ivory Coast, Democratic Republic of Congo and Angola in West Africa, Ethiopia in North Africa, Peru and Guatemala, Honduras, El Salvador and Nicaragua in Central America. While some of the markets get two-wheelers as a completely-built-up (CBU) unit from India, few of them have their own assembly unit. Hero MotoCorp is building a new manufacturing facility in Colombia and Bangladesh as well.
Hero MotoCorp is not only going aggressive with their international plans, but also with the domestic market. It is in the process of launching new products this year that are expected help them gain additional market share.
