Anand Mahindra Shared Car Price Hikes From Last 50 Years Ago
Inflation is one thing that has always been on the increase throughout the years and is still on the rise now, even if it is merely a steady rise. It’s difficult to think that the sums we used to spend for a new automobile in the past now just account for a component of a new car. &, in a recent tweet, Anand Mahindra, the chairman of Mahindra and Mahindra, provided a historical illustration of how automobile costs have climbed dramatically over the years.
Anand Mahindra recently posted a newspaper clipping from January 25, 1972, reporting on the’minute’ price rises experienced by then-new vehicles in the Indian market. The article describes how major automakers of the 1970s, such as Hindustan Motors, Fiat, and Standard, raised the cost of popular automobiles such as the Ambassador, Padmini, and 2000 by triple digits.
Anand Mahindra discussed his mother’s Fiat.
Anand Mahindra recalls in his tweet how he used to drive his mother’s blue Fiat automobile from his house to college on occasion. Even he was amused when he mentioned how ‘cheap’ cars were back then. According to the newspaper, the Hindustan Ambassador received a Rs 160 price increase, while the Fiat 1100D received a Rs 300 price increase. Along with them, Standard implemented a Rs 600 price hike, which was deemed significant at the time.
The hilarity is amplified when you realise the pricing of these automobiles back then. A new Hindustan Ambassador cost Rs 16,946 while a new Fiat 1100D cost Rs 15,946. This pricing for new automobiles in the thousands may appear tiny in today’s world, when the same cash will get you a new bicycle or merely a couple of new car tyres. However, these costs were deemed premium and costly at the time, making these automobiles affordable primarily to the top and privileged classes of society.
While Hindustan Motors and Fiat used to monopolize the Indian vehicle industry with their expensive sedans that were only affordable to the wealthy, the dynamics shifted when Maruti Udyog Limited joined the market with the Maruti 800 small hatchback. The Maruti 800 established a new route for the Indian vehicle industry, which is a significantly different ball game today than it was back then, with its tiny proportions, economical and reliable mechanicals, and cheap price tag. (adderall)