Pawan Munjal led Hero MotoCorp, India’s largest two wheeler maker entered the Argentine market with its 125 cc bike ‘New Glamour’ — the first ever global introduction of the company’s product outside the country.
In a bid to increase its global footprint and match rival Bajaj Auto, the company has drawn up plans to be present in 50 global markets by 2020. It is already operating from 35 nations.
Pawan Munjal, chairman and managing director, Hero MotoCorp said: “Mexico is the next market we are targeting to grow our presence in the region. The idea is to be in Brazil as well but it will take some time.”
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Hero is targeting to capture most of Latin American, African and South East Asian markets by 2020 before entering the matured U.S. and European markets.
Hero is the market leader in 125cc motorcycle segment in India and with the introduction of the ‘New Glamour’, the company aims to strategically expand its presence in the segment globally as the product will be available in 19 countries.
“The past five years have seen brand Hero evolve into a major global player,” Mr. Munjal said.
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“Our first global launch of a new motorcycle here is reflective of the importance of Argentina and Latin America for us on our global map. South America is an important market for us, a fact borne out by our first overseas manufacturing facility in Colombia.”
The company has roped in former Argentine soccer player Diego Simeone as its brand ambassador to push its products in Argentina. Simone is the second global sports icon to be signed by Hero after Tiger Woods.
After parting from Honda in 2010, Hero plans to achieve 10 per cent of its sales from global markets and a turnover of ₹60,000 crore by 2020.
(The correspondent was in Buenos Aires at the invitation of Hero MotoCorp.)