Mahindra and Mahindra (M&M) is planning to take over the trucks business of its subsidiary Mahindra Trucks & Buses. The business will be transferred to M&M through a scheme of arrangement, after being approved by M&M’s board .
Ashok Leyland, which makes trucks and buses, reported a 30% increase in sales to Rs 3,829 crore in the March 2011 quarter. The company sold 15% more vehicles during the quarter, compared to the March 2010 quarter.
The difference between volume and value sales could be explained either by a change in its product mix (selling higher value vehicles) or by an increase in prices.