India's Hero zooms into the UAE

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Indias Hero zooms into the UAE
Hero MotoCorp and Al Futtaim association aims to capture a sizeable market share in the GCC region.

Published: Tue 4 Oct 2016, 9:08 PM

Last updated: Tue 4 Oct 2016, 11:13 PM

India's Hero has joined hands with Dubai's Al Futtaim for its foray into the UAE market with the opening of first GCC showroom in the emirate.
Initially, four new models were launched on Tuesday. Hero MotoCorp Ltd (HMCL) appointed Al Futtaim as its distributor for Gulf countries. Starting price is Dh3,900 and it goes up to Dh7,000 depending on the engine size.
Speaking to Khaleej Times top officials of both the companies said soon the brand would be introduced in other Gulf markets.
The association aims to capture a sizeable market share in the GCC region - comprising of Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the UAE - a rapidly-growing two-wheeler market, they added.
For the past 15 consecutive years, the New Delhi-headquartered Hero MotoCorp has remained the world's largest two-wheeler manufacturer in terms of unit volumes sold by a single company in a calendar year.
The company sold over 6.63 million two-wheelers in the last financial year. Since its inception in 1984, Hero has sold over 70 million motorcycles and scooters in cumulative sales.
India is a very big market for two-wheelers with 17 million annual sales and HMCL's market share in the country is more than 50 per cent for motorcycle, head of Global Business Deepak Mokashi told Khaleej Times at the launch event. Regarding sales target in the UAE, Al Futtaim's Colin Cordery said: "We don't release sales number but we are going to sell as many as we can. Responding another question, Cordery said this is the right time to introduce Here in this market as it's a long-term partnership. Hero MotoCorp currently sells its products in 33 countries across the world including Turkey, Iran, and Egypt in the Middle East and North Africa region.
Cordery said: "Al-Futtaim's portfolio comprises some of the world's most-recognised and widely respected automotive brands, and it is only fitting that we partner with Hero MotoCorp - the world's largest manufacturer of two-wheelers. Our partnership with Hero MotoCorp further cements our position as the preferred automotive partner in this fast growing region." Mokashi said: "Hero has over the past five years rapidly augmented its presence across the globe. We are currently present in 33 countries and now with our entry in the GCC region, we have taken yet another important step in our global journey. This is an important market for us and we are excited to partner with Al Futtaim. Our partnership with them will enable us to increase our reach in the region and allow us to fulfil our customers' needs with the highest standards of excellence."
Hero MotoCorp has been associated with various disciplines of sports including golf, cricket, field hockey and football for over two decades now. Fourteen-times major winner Tiger Woods is Hero's Global Corporate Partner.
- abdulbasit@khaleejtimes.com

By Abdul Basit

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