Hindustan Motors Annual company report 1964-65. The Mark II had been introduced in 1964 and the storm of indigenisation took over in 1965 with the then government banning imports of components and a phasewise 100 % Made in India automobiles. So far so good. The manufacturers were also under the price control regime with the costs not being allowed to be increased cwithout govts permission.Quality suffered. Cigarettes (logical) and cars were the most taxed. Every budget proposed central excise duty hikes. The manufacturers played their roles by not innovating nor investing in R & D, as the cars they built under the quote regime resulted in huge waiting lists. It was a sellers market. The decay began !
Posted on: Sun, 24 Aug 2014 12:58:24 +0000
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