Industry

Hero MotoCorp forecast 27% sales growth

Indian motorcycle manufacturer expecting rise in sales since parting with Honda

INDIAN motorcycle manufacturer Hero MotoCorp are forecasting a 27% rise in sales, posting a strong growth since parting with Honda.

Based in New Delhi, Hero MotoCorp are expecting an increase in sales to as much as 250 billion rupees (approx £3 billion) at the year ending March 31, up from 196.7 billion rupees from a year earlier.

Motorcycle demands have experienced a large growth in the rural areas of India, which have seen the country become the world's second biggest two-wheeled market.

Anticipating this, Hero plans to increase research and development expenditure and is considering expanding with its own design house and engine manufacturering, to develop new models to compete with former partner Honda. A deal is still in place for Honda to continue providing support and models to Hero until 2014.

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