Hero MotoCorp reviewing its 2020 sales target

Hero MotoCorp is reviewing the sales target that it had set for itself a couple of years ago. This step is being taken in light of the slowdown in the global two-wheeler industry. 

Hero MotoCorp has been on an expansion spree, ever since its split with long-time joint venture partner, Honda. For the next few years, the company had laid out an ambitious global expansion plan of entering 50 new markets by 2020, 20 manufacturing facilities across the globe and an overall annual turnover of Rs 60,000 crore. 

Now though, the slowdown has now made the company’s sales targets implausible. The fluctuations in prices of crude oil have affected oil-dependent economies, impacting the two-wheeler and several other industries in these countries. And though export numbers are impressive, Hero MotoCorp has so far not been able to meet its projections. As such the company is planning to review its sales target, and possibly revise them taking the current scenario into consideration.

Source: TheHindu