Peugeot bought the car brand Ambassador
Hindustan Motors sells Peugeot brand ambassador car.
We signed an agreement with Peugeot SA for the sale of the brand Ambassador, including trademarks We intend to use the proceeds to clear the dues of employees and lenders, a spokesman CK Birla group said.
Ambassador, the iconic Indian car brand is sold to French automaker Peugeot.
C K Birla Group owned Hindustan Motors has formalized the agreement for Rs 80 crore on Friday.
Ambassador Car production stopped there about three years.
KOLKATA Ambassador of the iconic Indian car brand that till there are less than ten years made the Prime Minister and the common man, is sold to French automaker Peugeot.
C K Birla Group owned Hindustan Motors has formalized the agreement for Rs 80 crore Friday Production Ambassador cars had stopped there about three years.
We signed an agreement with Peugeot SA for the sale of the brand Ambassador, including trademarks We intend to use the proceeds to clear the dues of employees and lenders, a spokesman CK Birla group said.
For those who grew up in the 1960s and 70s, the Ambassador wasn t just a car; he was an integral part of the urban landscape of India.
The car looks absence was never in doubt but at a time of limited choices, the spacious fourwheeler is the preferred choice for most Indians who could afford even today for many, the car remains synonymous memories of their loving and younger days and a marker of a more innocent India.
It is not known if Peugeot will use the brand ambassador for its cars in India A questionnaire sent to the French company remained unanswered.
Brand Ambassador was introduced seven years ago when Hindustan Motors launched the Morris Oxford series II Landmaster in a new avatar with minor changes.
It quickly became a national icon and continued to dominate the Indian roads until the 1980s, when the Maruti 800 exposed its shortcomings.
24,000 units per year in the mid-1980s, sales dropped to less than 2,500 units in 2013-14.
On 24 May 2014, the inevitable happened when work was suspended at Hindustan Motors Uttarpara factory Uttarpara The plant dates back to 1942, making it the second oldest in Asia after the Japanese giant Toyota.
Peugeot had a brief presence of three years in India in the mid-1990s, when the Peugeot 309 has been assembled and sold by PAL Last year, Peugeot Citroen has announced plans to return to India by 2018. The company had earlier this year formed a joint venture with CK Birla Group for the Chennai plant tieup was to use the factory Hindustan Motors in Chennai as the production unit Chennai plant currently produces vehicles for Mitsubishi and has a manufacturing capacity of 12,000 units per year.
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Peugeot Hindustan Motors sells the car brand Peugeot Times of India Ambassador, Peugeot, Hindustan motors.