As we all know, Business magnate Anand Mahindra is the head of the Mahindra Group, one of the biggest corporations in India.
He is known for his active social media presence, especially on Twitter, where he gives his opinions and ideas on numerous topics, including business, technology, social concerns, and others. Sir Mahindra’s tweets frequently go viral and get extensive media attention. With millions of followers on Twitter and other platforms, he has now become a social media sensation.
In all these years, Anand Mahindra has established himself as a prominent figure in the discussion of entrepreneurship, innovation, and sustainable development because of his activeness on social media. His opinions reflect his certain pattern of thinking often.
However, the business tycoon has suddenly broken this trend by tweeting his astonishment 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 tweeted 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 grabbed a lot of attention and went viral at the speed of light. While many users blamed it on the consequences of inflation, others draw attention to the introduction of new models, which caused the price of existing automobiles to fall.
The tweet depicts 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
In case you don’t know, both Ambassador and Fiat are well-known automobile brands in India and have a long history. The Ambassador, which was frequently employed as a cab or official vehicle, was once the most loved car in India.
On the other hand, 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 outdated technology and design, lack of brand investment, greater competition from newer, more contemporary cars, a limited number of models, subpar after-sales support, and increased rivalry with other automobile companies, both brands have seen a decline in popularity.