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Hero MotoCorp Ltd further strengthens its presence in Central America

Posted On: 2021-01-13 07:33:28 (Time Zone: Arizona, USA)

Hero MotoCorp Ltd., the world's largest manufacturer of motorcycles and scooters, has reinforced its presence in Central America by appointing new distributor partners in Nicaragua and Honduras, with aggressive expansion plans for both countries.

Hero MotoCorp has lined up a slew of new launches, including its range of premium motorcycles, in both countries and will also expand its network with extensive customer touch-points and flagship stores in key markets.

Grupo Casa Pellas - one of biggest economic groups and the leading motorcycles, cars and trucks company in Nicaragua with 107 years of experience - has been appointed as the exclusive distributor of Hero MotoCorp in the country.

The Company has appointed Movesa S.A., as its exclusive distributor in Honduras. Movesa S.A. is one of the most important companies in Honduras with 14 years of experience in the motorcycle market.

Commenting on the development, Sanjay Bhan, Head, Global Business, Hero MotoCorp said "Honduras and Nicaragua are key markets for us in Central America and our expansion plans clearly showcase this. We are also very happy to have partners such as Grupo Casa Pellas and Movesa S.A. who will enable us to expand our footprint in both the countries. Through our new products and extensive customer touch-points, we aim to reach out to the youth in these countries who are looking for premium and stylish two-wheelers."

Hero MotoCorp's refreshed product portfolio in Honduras will include two new products - the XPulse 200 that has been highly successful across the globe since its launch in 2019 and the new Hunk 160R (Xtreme 160R in India).

Hero's comprehensive product portfolio in the country ranges from commuter to premium motorcycles including the Eco 150, Hunk 150, Hunk 190R, Hunk 160R and XPulse 200.

Hero MotoCorp's refreshed product portfolio in Nicaragua will also include the XPulse 200 and Hunk 160R.

Hero's comprehensive product portfolio in the country ranges from commuter to premium two-wheelers, including the Splendor iSmart 110, Ignitor 125, Eco 150, Eco 150TR, Hunk 150, Hunk 160R, Hunk 190R, XPulse 200 motorcycles and Dash 125 scooter.

Both the XPulse 200 and Hunk 160R have received great customer response in many South American countries already.

The Company will also offer a 4-year warranty on all products and will also ensure parts/service availability for all products. With appealing design and performance, Hero MotoCorp's comprehensive product portfolio promises to deliver quality engineering with an unmatched ride experience to its customers in Honduras and Nicaragua.

Hero MotoCorp's products are designed and developed at its two world-class Research and Development centers - the Center of Innovation and Technology (CIT) in Jaipur, India and the Hero Tech Center near Munich, in Germany.

Shares of HERO MOTOCORP LTD. was last trading in BSE at Rs.3257.4 as compared to the previous close of Rs. 3246.15. The total number of shares traded during the day was 74023 in over 5199 trades.

The stock hit an intraday high of Rs. 3317.55 and intraday low of 3217. The net turnover during the day was Rs. 241791598.

Source: Equity Bulls

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