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Two-wheeler maker Hero MotoCorp on Thursday announced partnership with Quilmotors as its exclusive distributor for accelerating growth in Ecuador. Quilmotors will be responsible for assembly operations, network development, sales, after-sales service and spare parts distribution in the South American nation, Hero MotoCorp said in a statement. "Ecuador presents a strong opportunity for us, driven by evolving customer aspirations and increasing demand for reliable, high-quality mobility solutions," Hero MotoCorp Executive Vice President - Global Business, Global Product Planning and Global Market Insights, Sanjay Bhan said. He further said,"Our partnership with Quilmotors combines their deep local market expertise with our global capabilities, making them an ideal partner." The product range comprising eight models, including motorcycles (Eco Deluxe and Eco 150), Naked Sports Range (Hunk 125R and Hunk 160R 4V), Dual purpose motorcycles (Xpulse 200 4V and Xpulse 200 4V Pro) and Urban
The two-wheeler industry has the potential to grow at 8-9 per cent CAGR in the long term, drawing from the momentum of GST rate cut, government's spending on infrastructure and overall growth of the economy, according to TVS Motor Company CEO KN Radhakrishnan. The first half of the next year is also expected to be "very good" in terms of sales growth, as the benefits of the GST rate cut will continue to come into the industry, he told analysts. "Overall, I'm a firm believer that 8 per cent to 9 per cent as a CAGR, you can look at on a long-term basis...," Radhakrishnan said when asked about the growth prospects of the two-wheeler industry for the next fiscal on the back of strong performance in Q3. In Q4, the benefit of the GST rate cut, which was implemented on September 22 last year, will be seen, he added. "The first half of the next year (fiscal) is also going to be very good because the benefits will come into the industry," he noted. While not sharing an exact forecast for t
Hero MotoCorp aims to strengthen its presence in segments such as scooters, premium bikes, and electric vehicles, where it currently remains under-represented, according to the company's CEO Harshvardhan Chitale. The country's largest two-wheeler maker also expects to expand its presence in international markets and the parts and accessories business. "While we take pride as a team in our volume leadership at Hero MotoCorp, we are all acutely aware of the opportunities that exist in some of the other categories, which are growing faster and where we are relatively under-represented," Chitale said in an analyst call. "Hence, we see a big headroom for growth and market share expansion in categories like scooters, in premium motorcycles, in global markets, in EV, and also above all, parts and accessories business because we are a company that has the biggest park size in the market," he added. For the December quarter, the company reported a revenue of Rs 12,487 crore with a PAT of Rs