Hindustan Motors is in the process of launching a new variant of Ambassador which should hit the market by early next year. The company will launch four new variants of the Ambassador in an effort to revive the ageing model and make it compete with the stylish new vehicles launched by car makers almost every month in the Indian market.
“We aim to double the sales Ambassador model to 2,300 per month in the next 15-18 months. Sales are expected to rise on the back of new variants of the car which would be launched next year,” said Manoj Jha, managing director, Hindustan Motors. The new model will be aimed towards politicians and IAS community of India. The Birla group company hopes the new variants will help it more than double the production of the car in the next 15 to 18 months.
It already has its plans underway to increase sales also by strengthening its dealership network. This year Hindustan Motors intends to sell 12,000 units including sales of its partner brand Mitsubishi that sells Lancer, Pajero, Cedia and Outlander in India.
Hindustan Motors posted a net loss in 2009/10 and accumulated losses over the previous four fiscals, wiping out over half its net worth. Jha said the firm's current debt is at 700 million rupees, including working capital. He had earlier said the firm expects to turn profitable by end FY11.
