HINDUSTAN MO­TORS SELLS ICONIC ‘AM­BAS­SADOR’ BRAND TO PEU­GEOT

Marwar - - All Things -

Iconic car brand Am­bas­sador has changed hands with the C K Birla Group-owned Hindustan Mo­tors—the com­pany that man­u­fac­tured Am­bas­sador— ex­e­cut­ing an agree­ment with French au­tomaker Peu­geot SA for the sale of the brand for `80 crore. Once the car of choice for top-rank­ing politi­cians and the com­mon man alike, the Am­bas­sador re­mained a sym­bol of lux­ury, re­li­a­bil­ity and stur­di­ness for al­most four decades un­til sales be­gan to slump in the eight­ies with the launch of Maruti and the chang­ing tastes of In­dian con­sumers.

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