One in all India’s most iconic automobile manufacturers has been bought by Hindustan Motors to the French producer Peugeot for a nominal $12m (£9.6m), officers say.
The Ambassador automobile was once one in every of India’s most prestigious automobiles beloved by authorities ministers. However it has been out of manufacturing since 2014.
It’s not clear whether or not Peugeot will revive the model.
Primarily based on the British Morris Oxford, the Ambassador was for 3 a long time India’s bestselling automobile.
Peugeot has lengthy been eager to get a foothold in India and was one of many first international automobile makers to enter the nation within the mid-1990s when the financial system first was liberalised.
The Ambassador was from the 1960s to the mid-1980s a standing image in India and was the one mass produced luxurious automobile in the marketplace.
Though not famend for its beauty, the automobile did win plaudits for its spacious inside and sound suspension, which was ideally suited to Indian roads. It was additionally one of many first diesel automobiles to look in India and one of many first to have air-con.
However its downfall was as spectacular as its rise – dropping from gross sales of greater than 20,000 fashions within the mid 1980s to about 2,000 in 2013-14 when manufacturing was suspended.
The automobile was additionally famend for its idiosyncrasies.
The handbrake hardly ever labored correctly – as a substitute spawning a era of drivers that might simply do hill begins deftly balancing the accelerator and brake.
The indicator controls have been usually mounted in uncommon positions, its brakes have been notoriously smooth and its steering lock was nearly non-existent.