Two-wheeler giant's localised manufacturing strategy delivers market leadership in Bangladesh and a turnaround in Colombia as international business emerges as a key growth driver
06 Feb 2026 | 228 Views | By Anurag Chaturvedi and Darshan Nakhwa
Hero MotoCorp reported a 50% year-on-year increase in its global business volumes during the first nine months of fiscal year 2026, marking the export segment as one of the company's fastest-growing divisions as the world's largest two-wheeler manufacturer pushes beyond its home market.
The company's global business grew 41% ...
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Hero MotoCorp reported a 50% year-on-year increase in its global business volumes during the first nine months of fiscal year 2026, marking the export segment as one of the company's fastest-growing divisions as the world's largest two-wheeler manufacturer pushes beyond its home market.
The company's global business grew 41% year-on-year in the third quarter, with market share expanding 100 basis points to 7.5%, management disclosed during an earnings call on Thursday. Premium products now constitute 40% of total export volumes, a significantly higher proportion than in the company's domestic portfolio.
Colombian Subsidiary Posts Turnaround
Hero MotoCorp's Colombian subsidiary delivered a sharp reversal, with volumes growing over 200% and market share doubling from 5% to 9% during the fiscal year. The subsidiary also turned profitable, reporting positive earnings in the first nine months after requiring an impairment charge in the previous year.
"The volumes have grown more than 200% in that business. We've improved our market share from 5% to 9%, and I am also happy to say the business has become profitable," Chief Financial Officer Vivek Anand told analysts.
Colombia presents a further growth opportunity, with a 700-basis-point gap remaining between Hero's current 9% share and the market leader, according to Chief Executive Officer Harshvardhan Chitale. In Bangladesh, Hero MotoCorp maintains its market leadership position and continues to gain share despite ongoing geopolitical challenges in the country, Chitale said.
New Markets Across Three Continents
The company launched products in Europe during the third quarter and entered the Philippines from what Chitale described as a "low base." Hero also established new dealerships across West Africa and North Africa and expanded into additional Latin American countries during the period.
Hero MotoCorp attributed the export growth to an "80-20 strategy" concentrating resources on its top 10 markets, three of which now exceed 10% market share. The company has introduced market-specific products, including the Hunk 125, Hunk 160, the 250cc model, and Zoom 110.
"Our products in the global markets have now been designed to suit the specific market conditions and customer requirements," Anand said, adding that Hero continues to invest in customer service infrastructure across export markets. When questioned about rising freight costs, particularly in Mexico, Chitale said Hero's manufacturing approach has insulated the company from such pressures.
"There is no impact because we actually have a localisation," Chitale said. "Being a relatively late entrant in exports, we are not so globally integrated that you just ship a full vehicle from one place. Our approach has actually been more local for localisation partnerships." The company operates manufacturing partnerships in key markets rather than exporting finished vehicles from India.
Export Push Part of Broader Strategy
Chitale, who joined as CEO one month before the earnings call, identified global business as one of five strategic growth priorities, alongside scooters, premium motorcycles, electric vehicles, and parts and accessories.
"Global markets are a big area of focus, and while we are expanding rapidly, there is still significant headroom for growth," Chitale said. The export expansion comes as Hero MotoCorp maintained its position as the world's largest motorcycle and scooter manufacturer for the 25th consecutive year, with dispatches of 6.1 million units in calendar year 2025, according to Executive Director V.S. Rajasekar.
Hero MotoCorp reported quarterly revenue of ₹12,328 crore in the third quarter, up 21% year-on-year. Normalised profit after tax grew 20% to ₹1,489 crore. The company does not separately disclose export revenue or segment-level profitability for its international business outside the Colombian subsidiary.