Mahindra said it is committed to the bus and truck business and will demerge it from MTBL into M&M. It will be run as a seperate division post the demerger.
Utility vehicle maker Mahindra & Mahindra's total automobile sales in March rose 11 percent year-on-year to 51,904 units.
Fair trade regulator CCI has approved auto major Mahindra and Mahindra's proposal to fully acquire commercial vehicle producer Mahindra Navistar Automotives, saying the deal does not raise anti-competition concerns.
Festive demand for its utility vehicles helped Mahindra & Mahindra's total sales in November rise 18 percent year-on-year to 48,143 units.
Last year was rather forgetable for automakers in India, especially the passenger car makers, as demand slumped amid expensive loans and a sharp rise in petrol prices. Mahindra & Mahindra's auto division, however, bucked the trend.
Utility vehicle maker Mahindra & Mahindra's total auto sales in February accelerated 29% from a year ago to 43,087 units, helped by growth across passenger vehicle and four-wheeler commercial vehicles.
The Mahindra Navistar (MNL) is a year old joint venture (JV) and has sold over 2,500 trucks in India so far.
The Ceat India Road Transportation Awards returned this year, continuing its endeavor to honour the beacon of the road transport industry.