Even after being the oldest car manufacturer of the Indian soil, Hindustan Motors could not survive the rapid change in the Indian automobile market which suddenly changed its image from a best seller to nothing. The company was established before independence and sold the iconic Ambassador as a bestseller vehicle till 1980’s.
The car was out of production in 2014 and the total loss for the company has exceeded INR 200 Crore by the end of September 2015. It faced a loss of INR 11 Crore recently from April-September 2015. The company has declared itself as a sick unit to BIFR (Board of Industrial and Financial Reconstruction) and declared voluntary retirement to its permanent employees.
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