Crisis-ridden Hindustan Motors, a C.K. Birla group company, is gearing up for the launch of a compact sedan in the next fiscal, its MD and CEO Uttam Bose said on Tuesday (Sept 24,2013).
The new sub-four meter small car will be manufactured on the ambassador platform and will be only in sedan variant. “The new car will be cheaper than the Ambassador because of its smaller length, which will attract less excise duty. However, its name is yet to be finalized,” Bose said.The initiative is a step towards the revival of the company`s fortunes, he said at the launch of Hindustan Motors’ BS-IV ‘Ambassador Encore’ here. ‘Ambassador Encore’ has been priced at Rs 4.98 lakh to give a boost to the taxi segment, company sources said.
The ambassador was recently awarded `Best Taxi in the World` by global automotive program Top Gear in London. “Going by the present trends, Hindustan Motors will be able to make a turnaround within a few years,” Mr Bose said.
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