Hero MotoCorp sets foot in Turkey
The world's largest two-wheeler maker, Hero MotoCorp has set foot in Turkey. Hero started their innings in that market by launching three of their products: the 125cc bike Glamour, the 150cc bike Thriller and the 100cc Pleasure scooter. The company has partnered with Asya Makina for distributing its vehicles in Turkey. Hero's products will be sold via 50 outlets in Turkey with more set to be added within a year. Outside India and apart from Turkey, Hero MotoCorp also has presence in Africa and South America. Hero is aiming at a presence in more than 50 markets by the year 2020 with more than a million unit sales from there.
From the time Hero broke up with its long time technology partner Honda, they have been keenly projecting their growing ambition to the world. Starting their own R&D was just a hint of things to come. They have the technical poweress to go ahead with new platforms and conceptsas is evident from the huge display at the Auto Expo 2014.
Speaking to the guests in the presence of Uysal Soysal of Soysal Group, Pawan Munjal said,"The commencement of our operations in Turkey is a significant milestone in our overall global expansion plans. We are aware that Turkey has a strong bikes market where customers value quality products, and our vision is to provide convenient, fuel-efficient mobility to every two-wheeler customer across Turkey. It also gives me immense pleasure to announce the choice of Soysal Group as our partner in this market. I am sure with their rich experience in this region and knowledge of the local customer, we will be able to achieve our immediate short-term goal of 5 % market share in Turkey. Going forward, we will also be bringing more bikes from our wide-ranging portfolio.
Hero MotoCorp sets foot in Turkey press release
|ICONIC TWO-WHEELER BRAND HERO DEBUTS IN TURKEY PARTNERS WITH "ASYA MAKINA" TO MARKET TWO-WHEELERS IN THE COUNTRY THROUGH 50 OUTLETS LAUNCHES 125CC BIKE GLAMOUR, 150CC BIKE THRILLER & 100CC SCOOTER PLEASURE IN TURKEY Istanbul, February 27, 2014: In keeping with its stated objective of reaching 50 global markets by 2020, Hero MotoCorp Ltd (HMCL), the world's largest two-wheeler manufacturer, today launched its operations in Turkey. The New Delhi (India)-headquartered Hero MotoCorp also announced a partnership with Asya Makina (Asya Dis ticaret ve makina san ltd sti) of Turkey to bring its two-wheelers to the country. Under the alliance, Asya Makina a subsidiary of the reputed Soysal Group - has been appointed as the distributor of Hero MotoCorp range of two-wheelers in Turkey. Under this partnership, Hero two-wheelers will be distributed through a network of close to 50 outlets spread across the country, with several more new outlets to be added in the next one year. Mr. Pawan Munjal, Managing Director & Chief Executive Officer, Hero MotoCorp, inaugurated the flagship state-of-the-art HeroAsya dealership at Camlica in Istanbul today. Mr. Munjal also launched brand 'Hero' in the presence of Mr. Uysal Soysal, Chairman of the Board of Directors of Soysal Group, and introduced the 125cc motorcycle - 'Glamour', the 150cc bike Thriller and the 100cc scooter Pleasure all the three products compatible with Euro III emission norms. These three models are also being showcased at the Hero-Asya stall at the ongoing Auto Show here. Speaking at the glittering ceremony, Mr. Munjal said, "The commencement of our operations in Turkey is a significant milestone in our overall global expansion plans. We are aware that Turkey has a strong bikes market where customers value quality products, and our vision is to provide convenient, fuel-efficient mobility to every two-wheeler customer across Turkey. It also gives me immense pleasure to announce the choice of Soysal Group as our partner in this market. I am sure with their rich experience in this region and knowledge of the local customer, we will be able to achieve our immediate short-term goal of 5% market share in Turkey. Going forward, we will also be bringing more bikes from our wide-ranging portfolio. "We are targeting to be present in as many as 50 global markets by the year 2020, with over a million unit sales coming from overseas sales. Therefore, our launch in Turkey is a significant move as part of our long-term strategy," he added. Highlighting the brand building initiatives that Hero MotoCorp is undertaking in the local market, Hero MotoCorp also presented a preview of the Turkish anthem with its theme of "There's a Hero in each of us". The anthem is a remarkable portrayal of the company's brand essence and composed and originally sung by Oscar-winning music director A. R. Rahman. Robust Globalization Strategy Under the leadership of Mr. Munjal, Hero MotoCorp has fast augmented its global presence. As of today, Hero products sell in Peru in Latin America; Guatemala, Honduras and El Salvador in Central America; Kenya in East Africa; Burkina Faso and Ivory Coast in West Africa; and Sri Lanka and Nepal in Asia. The company has already started despatching vehicles to other markets such as Tanzania and Uganda. Hero MotoCorp also plans to set-up local assemblies in Tanzania and Uganda in the near future. In-house Research & Development Capabilities Earlier this month, Hero MotoCorp demonstrated its technological excellence and innovative approach by showcasing over a dozen products on new platforms, including path-breaking concept models, at the Auto Expo the Motor Show in Delhi. These included bikes ranging from 100cc to 620cc, a hybrid scooter and electric motorcycle, and significantly a 150cc diesel-run two-wheeler. Within just two years of launching the new brand identity, Hero has forged four strategic alliances - with the US-based Erik Buell Racing (EBR); Austria-based AVL, the Bologna, Italy-based two-wheeler design firm "Engines Engineering", and most recently, with the Milan-based Magneti Marelli to develop and manufacture new generation fuel injection systems. Hero MotoCorp also made its first-ever equity investment in an overseas firm by announcing the purchase of 49.2 per cent equity at EBR for US$ 25 million. Hero MotoCorp, with a turnover of over US-billion, is the world's largest two-wheeler manufacturer in terms of unit volumes produced by a single company in a calendar year. It sold over 6.1 million two-wheelers in calendar year 2013.|
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