Car Loan News
HM to invest Rs 295 cr to upgrade Uttarapara plant
Friday,5th October 2007
|
Hindustan Motors, maker of famous Ambassador Car,
is investing over Rs 295 crore in upgrading its Uttarapara plant, which
manufactures Ambassador Cars. According to media reports, Ambassador, which was launched 50 years ago, and a few other older cars were expected to be phased out in another couple of years as they would not have been able to meet the new safety or emission norms. Hence, it is planning to launch new models of the car which can be sold even after 2009. Surprisingly, sales of Ambassador has not seen a dip despite stiff competition, it has in fact seen some marginal increase every year. During 2006, it sold about 14,000 cars and is expected to sell 15,000 units this year. |
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