Volvo group has sold Eicher Motors Limited 1,270,000 shares for SEK 2.5 billion. This has no effect on the ownership of VE Commercial Vehicles. This also helps volvo with financial debts that they faced before. This sale is also expected to affect the income of the trucks segment in 2015's first quarter. Since 2008, Eicher Motors Limited has owned VECV, Volvo group being the third largest commercial vehicle in the world. Early 2014 saw the introduction of the pro series adapted specifically for Indian markets, India has been and wil continue to be one of Volvo group's mail focus. Parallelly, Eicher also owns the renowned Royal Enfield motorbike brand.
Recent downturn of Market sentiments could be the reason. It wil have some impacts on Eicher Trucks financial performance and future strategy. To buy detail analysis please contact to nidhi.singh@autobei.com
Source: Autobei
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