Anand Mahindra Is Shocked To Know The Price Of Ambassador 50 Years Ago In 1972

Businessman Anand Mahindra is the head of the Mahindra Group, one of the biggest corporations in India. He is renowned for his active social media presence, where he offers his opinions and ideas on a variety of subjects, including business, technology, and social concerns.

Mahindra is famed for his insightful and hilarious tweets, which frequently go viral and get extensive media attention. With millions of followers on Twitter and other platforms, he is a well-known presence on social media.

Mahindra has established himself as a key figure in the discussion of entrepreneurship, innovation, and sustainable development because of his social media presence. His opinions frequently reflect his certain style of thinking.

wikipedia

ADVERTISEMENT

However, the business tycoon has suddenly broken this trend by tweeting his shock at the costs of a 1972 Ambassador and a Fiat Car.

In his tweet, Anand Mahindra wrote,

“This has plunged me into some ‘Sunday reminiscing.’ I was in JJ college at that time. Used to go by bus, but my mother occasionally allowed me to drive her blue Fiat. Even I can hardly believe this is what it cost at that time!”

Anand Mahindra shared a newspaper clipping containing information about the Ambassador and Fiat price increases in 1972

Have a look at his tweet:

This has plunged me into some ‘Sunday reminiscing.’ I was in JJ college at that time. Used to go by bus, but my mother occasionally allowed me to drive her blue Fiat. Even I can hardly believe this is what it cost at that time! pic.twitter.com/jtppIXvFtI

— anand mahindra (@anandmahindra) January 29, 2023

Anand Mahindra’s post generated a flood of responses on social media. While many users draw attention to the consequences of inflation, others draw attention to the introduction of new models, which caused the price of existing automobiles to fall.

The tweet demonstrates that at the time, following a price increase, a Fiat 1100-D was priced at Rs 15,946 and an Ambassador at Rs 16,946.

Have a look at some of the reactions

All I can see is how the value of the currency has depreciated over time.

In 15,000 today you just get two car tyres of a car.

But the same 15,000 if kept in gold would have fetched you a car even today.

— Kashif Raza (@simplykashif) January 29, 2023

Also an indicator of shameful governance under Socialism .
Supreme courts need , for intervention, is an indicator of the degenerate economic thinking , under which India was forced to struggle for decades . Without license raj domestic auto majors would have done even better

— Dr. Sudhir Mehta (@sudhirmehtapune) January 29, 2023

Pertinent to note, middle-class monthly salary at that time was about Rs. 300 (40-50K now). So a car was priced 55 X monthly salary.
Today a decent car costs 8L, so it’s just 18Xmonthly salary. Effective price is nearly 1/3 now.
Used car at even 1.5-2L #EasyAffordability

— India_tweets (@Indiatweets15) January 29, 2023

Assuming 8% as inflation after 50 years same car would cost around 8 lakhs. 1972 only very very few people can afford for the car but today a fresher with decent salary can get this car for his family through debt from banks at 9% interest. pic.twitter.com/WKELBDrSSK

— Senthil Kumar (@senthil2achieve) January 29, 2023

For the uninitiated, both Ambassador and Fiat are well-known automobile brands in India and have a long history there. The Ambassador, which was frequently employed as a cab or official vehicle, was once the most well-liked car in India. Contrarily, Fiat has been around in India for more than a century and was among the first foreign automakers to set up shop there.

However, due to issues including outdated technology and design, a lack of brand investment, greater competition from newer, more contemporary cars, a limited number of models, subpar after-sales support, and increased rivalry from other automobile companies, both brands have seen a decline in popularity.