Hero MotoCorp breaks overseas sales record, sells 2.89 lakh units in 2021
Hero MotoCorp, the world's largest manufacturer of motorcycles and scooters, is likely to remember 2021 fondly. Despite the plethora of challenges for the Indian and global automotive industry through the course of the year, Hero MotoCorp managed to sell its highest-ever number of units in the calendar year - at 2.89 lakh units.
Hero MotoCorp expanded its presence in countries in Asia, Africa, south and central America and in the Caribbean region through the course of last year. This helped the company register a 71% rise in sales in markets outside of India. While the 2.89 lakh figure is impressive, it looks especially special when compared to the fact that the company had sold 1.69 lakh units in overseas markets in all of 2020.
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But while Hero MotoCorp is celebrating, the company isn't entirely surprised with the performance. “The volumes in our global markets in the calendar year 2021 is in line with our plans, keeping in mind the constraints in global logistics and supply chain on account of the prevailing Covid-19 pandemic," said Sanjay Bhan, Head - Global Business, Hero MotoCorp. "We are well on track to meet our target of garnering 15% of the company’s total volumes from our global business by 2025."
Hero MotoCorp is currently playing the field in as many as 42 countries and has benefited from the global markets gradually opening up. While obviously a dominant player in India too, the company is now looking towards battery power here in order to meet with challenges thrown up by relatively newer players. Its first electric product will be unveiled for the Indian market come March and would be manufactured at its facility in Andhra Pradesh's Chittoor.
But with the rising number of Covid-19 cases in India, the road ahead may have a fair bit of challenges for the industry at large. In December, Hero MotoCorp sold 394,773 in the domestic market, up from 349,393 in November.