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In order to its global presence, the world's largest two-wheeler maker, Hero MotoCorp, plans to launch its products in the Nigeria by the third quarter of this fiscal, while is also planning to make its appearance in Argentina and Mexico by the end of the current year. The company has set a target of selling 1.2 million two-wheelers in its global markets by the year 2020 and is also aiming to make its presence in the 50 countries by 2020. Moreover, the firm has already created a lot of buzz with its dynamic and high-performance products in 24 countries across Africa, Asia, Central and South America.
On the domestic front, Sud said Hero MotoCorp is aiming to maintain its market leadership through a slew of new product launches this year as the firm will introduce two new scooters during the festive season to maintain its scooter line-up. The upcoming scooters are likely to be Hero Dash 110 and Dare 125. Both the scooters were showcased at the 2014 auto Expo. Comes to the point, Nigeria is the largest two-wheeler market in Africa with annual volumes of 1.5 million units, while Argentina and Mexico each generate over half a million units per annum.
"We have shortlisted a distributor for Nigeria and we will be making our entry into that market by the third quarter. We are hopeful of launching our operations in Argentina and Mexico towards the end of the year," Hero MotoCorp Senior Vice President and Chief Financial Officer Ravi Sud told PTI. The day before today, the firm has reported 33.33 per cent hike in its net profit for the first quarter June 2015.
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