Hero MotoCorp to enter Mexican market, will launch nine products
Hero MotoCorp on Wednesday announced plans of entering the Mexican market and confirmed it has entered a distribution agreement with Grupo Salinas. The world's largest two-wheeler maker is looking at tapping the customer base in Mexico and has plans of launching nine products here in the first phase.
Hero MotoCorp says its distribution agreement with Grupo Salinas makes this one of the largest largest distribution networks globally to sell products in Mexico. As such, the products planned for here include a number of motorcycles - from 100cc and 125cc to options in the more premium 150 to 160cc. A number of scooters are also being planned for potential customers here.
A number of reports indicate that the two-wheeler segment in Mexico has been increasing rapidly and although Covid-19 pandemic has come as a setback, things are fast returning to normal. There are a few notable local players of note here while Japanese and US manufacturers also compete for the market share here.
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Touching down in Mexico could be another shot in the arm for Hero MotoCorp which has a dominant presence in India as well as in some Asian, African and South and Central American countries. It has eight manufacturing facilities across the world, six of which are in India.