Hindustan Motors stopped production of the Ambassador in 2014 citing debt and lack of demand for the vehicle which was designed on Britain’s long-defunct Morris Oxford. Photo: ReutersNew Delhi: India’s Hindustan Motors has sold its Ambassador car to France’s Peugeot for just $12 million, capping a spectacular downfall for a vehicle once emblematic of the country’s political class. Hindustan Motors, India’s oldest car maker, stopped production of the Ambassador in 2014 citing debt and lack of demand for the vehicle which was designed on Britain’s long-defunct Morris Oxford. “We have sold it for just Rs80 crore but we had already stopped production at the plant nearly three years back. The curvy Ambassador once ruled India’s roads and for years was the only car driven by politicians and senior government officials.

Source: Mint February 12, 2017 17:33 UTC