Italika Sells One Millionth Motorcycle, Consolidating Leadership in Mexico
—Six years after launch, Italika has 63% market share—
—Fuel efficiency, low-cost maintenance and quick transportation for thousands of families in Mexico, Guatemala, Honduras, Peru and Brazil—
MEXICO CITY, March 22, 2011 /PRNewswire/ -- Grupo Elektra, S.A. de C.V. (BMV: ELEKTRA*; Latibex: XEKT), Latin America's leading financial services company and specialty retailer, announced today that its Italika brand has sold one million motorcycles in its six years of operations, consolidating its position as the top selling brand of motorcycles in Mexico and a strong option in Guatemala, Honduras, Peru and Brazil.
The millionth motorcycle was delivered on Friday, March 18 at an Elektra store in the state of Tabasco.
In Mexico, Italika sells more than 200,000 motorcycles annually, representing 63% of total motorcycle sales in the country; it has an assembly plant in the city of Toluca with production capacity of 350,000 motorcycles with world-class quality standards. The plant has a 30,000 m3 warehouse of replacements parts, to ensure timely supply, as well as an R&D lab to monitor quality of every part.
As for product support, Italika has a network with almost 500 service centers across the country, in which its customers receive timely and superior attention.
Italika motorcycles are fuel efficient, which makes them economical transportation and contributes to lower consumption of fossil fuels. Italika motorcycles also represent easy maneuverability and space efficiency that shorten travel times for many users.
The success has been exported to new markets, including Guatemala, Honduras, Peru and Brazil, where the bikes have also been well received.
Grupo Elektra expects to benefit a growing number of families by providing efficient transportation options that expand productivity and improve living standards in the communities where Italika motorcycles are sold.
Grupo Elektra (www.grupoelektra.com.mx) is Latin America's leading financial services company focused on the mass market. The Group operates more than 2,000 points of sale in Mexico, Brazil, Guatemala, Honduras, Peru, Panama, El Salvador and Argentina. Grupo Elektra also sells and markets its consumer finance, banking and financial products and services through Banco Azteca branches located in Mexico, Brazil, Panama, Guatemala, Honduras, Peru and El Salvador.
Grupo Elektra is a Grupo Salinas company (www.gruposalinas.com), a group of dynamic, fast-growing, and technologically advanced companies focused on creating shareholder value, contributing to build the middle class of the countries in which they operate and improving society through excellence. Created by Mexican entrepreneur Ricardo B. Salinas (www.ricardosalinas.com), Grupo Salinas operates as a management development and decision forum for the top leaders of member companies. The companies include Azteca (www.irtvazteca.com), Azteca America (www.aztecaamerica.com), Grupo Elektra (www.grupoelektra.com.mx), Banco Azteca (www.bancoazteca.com.mx), Afore Azteca (www.aforeazteca.com.mx), Seguros Azteca (www.segurosazteca.com.mx) and Grupo Iusacell (www.iusacell.com.mx). Each of the Grupo Salinas companies operates independently, with its own management, board of directors and shareholders. Grupo Salinas has no equity holdings. However, the member companies share a common vision, values and strategies for achieving rapid growth, superior results and world-class performance.
Except for historical information, the matters discussed in this press release are forward-looking statements and are subject to certain risks and uncertainties that could cause actual results to differ materially from those projected. Other risks that may affect Grupo Elektra and its subsidiaries are identified in documents sent to securities authorities.
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SOURCE Elektra, S.A. de C.V.