Crisis-ridden Hindustan Motors, a CK Birla Group company, is gearing up for the launch of a small car in the next fiscal, its MD and CEO Uttam Bose said on Tuesday.
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 finalised,” Bose said.
The initiative is a step towards revival of the company’s fortunes, he said at the launch of Hindustan Motors’ BS-IV ‘Ambassador Encore’. ‘Ambassador Encore’ has been priced at R4.98 lakh to give a boost to the taxi segment, company sources said. “Going by the present trends, HM will be able to make a turnaround within a few years,” Bose said.