Garware Motors Replaced by DSK In Hyosung JV

If reports are to be believed, there is a bad news for all the Hyosung supporters. According to trusted sources, there is a confirmation that Garware Motors has almost finalized of selling its share in the Hyosung joint venture. They have decided to give their share to DMK, which are a leading real estatate developing firm from Pune. DSK is also famous because of their Toyota dealership in Pune which was one of the largest dealerships of India. This move is expected to give a huge boom to DSK in the country's two-wheeler market. Garware Motors, which is also a prominent player of this field, has 18 dealership centres in India at present.

There are speculations about what could have caused Garware Motors to sell its share in Hyusung's India's operations. The major reasons that are being cited are that maybe DSK provided Garware Motors with a very attractive offer and they were tempted to take it up or probably Garware Motors might have given up on its plans of making any more investments in Hyosung. Recently, the Supreme Court banned the use of Sun films which has closed the Rs. 150 crore Sun film sector. Garware Motors was one of the major players in the Sun film industry and its shuttiing down could have also forced Garware Motors to be more circumspect with their investment plans.