Hero MotoCorp expands operations in Argentina

The two-wheeler major along with Gilera Motors Argentina has expanded operations and inaugurated a flagship dealership in Argentina.

Hero MotoCorp recently announced the revitalisation of its presence in Argentina by partnering with Gilera Motors, one of the leading companies in the motor vehicle sector in Argentina and one of the most experienced motorcycle manufacturers in Latin America.

Gilera Motors Argentina will make new investments to rapidly expand all business operations for Hero MotoCorp's world-class products. This is expected to generate nearly 500 new jobs in the region.

Gilera Motors Argentina has also expanded its plant in Carlos Spegazzini Province of Buenos Aires to completely renovate its infrastructure and adapt the latest automotive technologies that are incorporated in Hero MotoCorp products.

Hero MotoCorp and Gilera Motors Argentina also inaugurated a flagship dealership in Buenos Aires, where customers can experience Hero MotoCorp's products and services.

Both the firms have an aggressive expansion plan that includes enlarging the sales and service network throughout the country. Hero MotoCorp will soon introduce its products in the country.

Hero MotoCorp registered sales of 3,49,393 units in November 2021, down 40.89% compared with 5,91,091 in November 2020. Sequentially, total sales declined 36.24% last month compared with 5,47,970 units recorded in October 2021.

On a consolidated basis, Hero MotoCorp's net profit dropped 22.4% to Rs 747.79 crore on a 9.9% decline in net sales to Rs 8,538.85 crore in Q2 September 2021 over Q2 September 2020.

Hero MotoCorp is the world's largest manufacturer of motorcycles and scooters, in terms of unit volumes sold by a single company in one year, the coveted position it has held for the past 20 consecutive years. The company has sold more than 100 million motorcycles and scooters in cumulative sales since its inception.

Shares of Hero MotoCorp were up 0.49% at Rs 2482.10.

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