Asya Makina, a subsidiary of Soysal Group, would distribute Hero MotoCorp two-wheelers through its network of 50 outlets spread across the Turkey.
Country's largest two-wheeler maker Hero MotoCorp today launched its operations in Turkey by entering into a distribution agreement with Asya Makina. Asya Makina, a subsidiary of Soysal Group, would distribute Hero MotoCorp two-wheelers through its network of 50 outlets spread across the Turkey, the company said in a statement.
The Turkish partner would further add several new outlets in the next one year. The two-wheeler maker also introduced its 125cc motorcycle Glamour, 150cc bike Thriller and 100cc scooter Pleasure in Turkey, all compatible with Euro III emission norms. Hero MotoCorp Managing Director & Chief Executive Officer Pawan Munjal inaugurated Hero-Asya dealership at Camlica in Istanbul in the presence of Chairman of the Board of Directors of Soysal Group Uysal Soysal.
Speaking at ceremony, Munjal said: "The commencement of our operations in Turkey is a significant milestone in our overall global expansion plans. We are aware that Turkey has a strong bikes market where customers value quality products, and our vision is to provide convenient, fuel-efficient mobility to every two-wheeler customer across Turkey." We will be able to achieve our immediate target of having five percent market share in Turkey and bring more bikes from portfolio, he added. Hero MotoCorp has an objective of reaching 50 global markets by 2020.
Hero Motocorp stock price
On February 25, 2014, Hero Motocorp closed at Rs 1952.10, up Rs 1.75, or 0.09 percent. The 52-week high of the share was Rs 2214.70 and the 52-week low was Rs 1434.05.
The company's trailing 12-month (TTM) EPS was at Rs 106.61 per share as per the quarter ended December 2013. The stock's price-to-earnings (P/E) ratio was 18.31. The latest book value of the company is Rs 250.70 per share. At current value, the price-to-book value of the company is 7.79.
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