5 percent of global bicycle market to be shared by 2015 targets Hero motors

Recently when the name has opened the brand and logo and has raised the MotoCorp hero group hero to a maximum, it has been reported that the diversification of the business entity Hero Motors is now the target of doubling the size of your business in 2015, aiming for 5 percent of the total market cycles in the world then.

The reports referred to Hero Motors Managing director Pankaj Munjal saying “Currently we make 19,000 cycles every day, which means 5.5 million each year. By 2015, we want to double the business representing 5 percent of the market global Bicycle. "By 2015, the world market cycle is expected to be USD 77.7 billion, he added.”In the last three years we have invested Rs 600 million rupees in our business," said Munjal.

According to reports, Hero Cycles is the group's flagship Hero Motors, which also show important presence in the automotive components through various group companies. Hero Motors has also announced its partnership with the F1 driver, Narain Karthikeyan and his Formula One team. The company is sponsoring Karthikeyan and his team for the first Formula One Grand Prix to be held in India in October this year. Munjal not disclose the importance of the sponsorship agreement, but said: "(F1) Grand Prix is a property expensive." Commenting on the company's plans for the promotion and marketing, said: "We will focus largely on the field activities and events to promote our association with Karthikeyan."Vcommindia News