Hindustan Motors Sells Contessa Brand
Hindustan Motors Ltd. has agreed to sell the ‘Contessa' brand, nearly eight years after it discontinued production of its another iconic Ambassador cars.
The Kolkata-based carmaker executed a brand transfer agreement with SG Corporate Mobility Pvt. for the Contessa, including its trademarks and related rights, for an undisclosed amount, according to an exchange filing on Tuesday.
Manufactured from 1984 until 2002, the Contessa was pitched as a luxury car in India then. The car went through several iterations, including an 1,800-cc Contessa Classic, before emission standards and the onslaught of small hatchbacks from Maruti Suzuki India Ltd. and Hyundai caught up with it.
This comes amid reports of the Ambassador set for a revival. The Times of India, citing Hindustan Motors Director Uttam Bose, reported that “work is underway to bring out the ‘new look' Amby”. Widely used as a taxi across major cities, the Ambassador's production was halted in 2014 and the brand was sold to French automaker Peugeot SA in 2017.
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