The Iconic Indian Car, Ambassador car that brand till less than 10years ago who carried both the common man and Prime Minister. Now the Ambassador car is sold to French company Peugeot. The brand is owned by Hindustan Motors is a part of C K Birla Group, and they have sold the legendary Ambassador car for Rs. 80 crore. Hindustan Motors have sold the car on Friday. Around three years ago the Kolkata-based HM had stopped the production of Ambassador cars. A C K Birla group spokesperson said,”We have executed an agreement with the Peugeot SA Group for the sale of the brand Ambassador, including the trademarks… We intend to use the proceeds from the sale to clear dues of employees and lenders.”
In the 1960s and 70s, Ambassador car was not just a car it was a part of India’s urban landscape. For most of the Indians who could afford it, they preferred the ambassador four wheeler. In the 1980s, Ambassador cars were sold nearly 24,000 units a year, then in 2013-14, the sale was less than 25,000 units before the production was stopped.
The Birla Group started the production of Ambassador cars in 1958 when Hindustan Motors launched the Morris Oxford Series II with small changes. After that, it soon became a national icon till 1980 before the Maruti 800 was launched. On 24th May 2014, the unavoidable happened when the work was stopped at Uttarpara factory.
No one knows that French company Peugeot will use this Ambassador brand in India. One person asked this question to the French company through email, but still, there is no reply for it.
Peugeot had a duration of three-year presence in India in the 1990s, when the Peugeot was sold by PAL. Peugeot Citroen had announced last year that he would re-enter in India by 2018. Early in this year the company had formed a JV with CK Birla Group for the Chennai plant.