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Hero MotoCorp reinvigorates its operations in Nigeria

Posted On : 2021-06-05 20:09:59( TIMEZONE : IST )

Hero MotoCorp reinvigorates its operations in Nigeria

Hero MotoCorp, the world's largest manufacturer of motorcycles and scooters, today announced its reinvigorated strategy for the Nigeria market. Building on its aggressive strategy to have a robust market presence, the New Delhi (India)-headquartered company also launched a new motorcycle that is developed especially for the Nigerian market.

The diversified Kewalram Chanrai Group is the exclusive distributor of Hero MotoCorp in Nigeria. With its extensive experience in the automotive sector spanning several decades, the Group will play an integral role in Hero MotoCorp's growth plans in Nigeria.

Hero MotoCorp - along with Kewalram Chanrai Group - is aiming to aggressively grow its presence in Nigeria and cater to the continuous demand for great quality products at affordable prices. The new strategy underscores Hero MotoCorp's commitment towards Nigeria and to providing customers with an appealing and comprehensive range of products across the country.

The Hunter is an 'Unstoppable Machine' that offers customers modern technology with the best mileage, longer engine life, and a comfortable long seat. The Hunter is now available across Nigeria, at an attractive introductory price of Naira 2,67,000/-*.

The Hunter also comes with an industry-first 12-month or 75,000 km Engine Warranty. The motorcycle's engine has been extensively tested for performance in Nigerian conditions. Hero MotoCorp is also planning to have 3S outlets in 20 towns across Nigeria and will have a pan country presence through dealers and parts distributors. In addition, an extensive network of 5000+ trained technicians across Nigeria, will ensure easy access to service and parts for all customers.

Sanjay Bhan, Head - Global Business, Hero MotoCorp said, "Nigeria is a key market for us and central to our growth plans in the region. We have developed this motorcycle especially for the Nigerian market showcasing our commitment to the country. Going forward too, we strive to bring our globally renowned products to Nigeria. Along with our partner Kewalram Chanrai Group, we are confident of delighting the customers and driving the market with our world-class products and services."

Commenting on the launch, Anil Sahgal, Managing Director, Automotive Division, Kewalram Chanrai Group, said, "We are extremely glad to be the exclusive partner of Hero MotoCorp, the world's largest manufacturer of motorcycles and scooters, in Nigeria. With our expertise in the market and Hero MotoCorp's global excellence, we will provide the best products and services to customers in Nigeria. Our grand event in Ibadan, attended by the country's top dealers, to launch the Hunter was a huge success. The initial feedback for the Hunter has been exciting. As our bikes travel across the entire country, they will definitely excite the customers. Our aim is to significantly increase our presence in the market this year."

The Hunter motorcycle offers the most durable inclined engine with Advance Oil Circulation Technology, Highest Fuel Efficiency, and Triple Air Filtration for longer engine life. With reinforced chassis structure the motorcycles also offer a stronger rear shock absorber, rubber padded gear shift lever with all down gear pattern, comfortable flat thick seat, and a flat rear carrier.

Shares of HERO MOTOCORP LTD. was last trading in BSE at Rs.3048.3 as compared to the previous close of Rs. 3010.3. The total number of shares traded during the day was 70206 in over 7457 trades.

The stock hit an intraday high of Rs. 3053 and intraday low of 3000. The net turnover during the day was Rs. 213387519.

*Local prices in separate regions may vary

Source : Equity Bulls