Ambassador
Car, the once iconic symbol The brand owned by Hindustan Motors has a new owner, French carmaker Peugeot.
It was a part of C K Birla Group has sold the legendary brand for Rs 80 crore.
The car which
until a decade ago carried the Prime Minister stopped production due to weak
demand and lack of funds. the Birla Group began production of
Ambassador cars in 1958.
Modern and cost efficient machines
from Toyot, Honda, Hyundia and Maruti Suzuki became the reason why the
Ambassador struggled to attract new buyers.
Hindustan Motors suspended the production after declaring voluntary retirement scheme for all the employees.
In mid 2014, last Ambassador car produced in West Bengal marking the end of the golden era.
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