Peugeot buys India’s Ambassador car for $12 million


India’s Hindustan Motors has sold its Ambassador car to France’s Peugeot for just $12 million (£9.6 million), capping a spectacular downfall for a vehicle once emblematic of the country’s political class. The CK Birla group, the owners of Hindustan Motors, have sold the car brand to the French auto makers, a company spokesman confirmed on Sunday (12) 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 but we had already stopped production at the plant…

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