Premier Today –
The Premier Automobiles Limited is a famous manufacturer of automobiles and headquarters of this company are located in Mumbai, India. Currently, this automaker is providing Rio-first compact diesel SUV, Roadster, Roadster Tipper, Sigma Lifeline, Sigma Express, Sigma School van, Sigma Tourist van, and Sigma. Recently, this brand started new tech centers in Bangalore, Delhi, and Pune.
Premier History –
In 1944, this company was established at Mumbai and the main objective of this company was to produce trucks, bus chassis, passenger cars, air conditioners, and marine and industrial engines. It was a result of successful negotiations with Chrysler Corporation in 1939.
In 1949, auto parts were being manufactured in India began with simpler components and gradually producing up to more complicated pieces.
In 1951, this automaker started manufacturing versions of the Fiat 500 model for the Indian market and this company also began to produce Premier auto under different names like Dodge, DeSoto and Plymouth.
In 1954, the Fiat 1100 model was introduced under this brand. In this very same year, the government issued steep import duties on imported parts to avoid foreign companies from dominating by mass-manufacturing parts to be assembled into vehicles in India.
In 1956, Equity ‘B’ shares converted into Equity ‘A’ shares
In February 1960, 1, 84, 600 rights shares issued at per in the proportion 1:2. During 1959-61, further 1, 46, 373 debentures converted into shares.
In 1962, further 6,043 shares issued in conversation of debentures. In the month of April, 1, 87, 237 right shares issued and only 47,000 shares were assigned by June.
During 1963, further 12 shares issued in conversation of debentures.
In 1972, collaboration agreement was signed with the Chrysler Corporation to produce commercial automobiles ended on 31st December.
In 1973, the Premier name was used on its automobiles for the first time, the Premier President, based on the Fiat 1100 model as Premier Padmini.
In 1978, this company unveiled the Fiat 124–based 118 and 138D models under ‘Premier’ brand.
In 1981, car assembly plant was moved to Dombivli at an estimated cost of Rs. 28.5 crores. In this same year, government approval was received for foreign collaboration & for import of capital goods to enhance fuel efficiency and upgrading of Premier Padmini car through adoption of Fiat 124 car body with its current powertrain.
During 1983, the licensed capacity was augmented to 28,600 passenger cars per annum.
In 1985, this automaker achieved an endorsement for its license from the Government raising its license capacity up to 50,000 units.
During 1989, diesel cars of this automaker were supplied on a regular basis to the Taxi trade. To assist in upgrading the Padmini engine for more fuel efficiency and better emission control, Premier Auto Limited tied up with the AVL of Austria & Power Design Intra of America.
During 1990s, Premier Padmini, which is a reincarnation Fiat 1100 model which was one of the most popular models of Primer Autos in India.
In 1991, the Wadala plant of this company was shut down.
In 1993, this company installed diesel engine on the 118 NE car & its version was known as, 1.38D. In this same year, this automaker entered in an agreement with automobiles Peugeot of France to build its 309 car in India.
In 1994, Premier Auto Limited hired Purchase Limited which is the wholly owned subsidiary of this automaker. Kalyan Motors Company Limited became the subsidiary of Premier.
On 5 January 1996, UNO was unveiled by this company. Due to recession, demand of vehicles adversely affected.
During 1997, this company had localized wheel caps, seats, wheels, jacks, batteries, tires horns etc. The synchromesh transmission on Premier Padmini diesel was introduced in this same year. The PP137D model with bucket seats was launched. To produce CNC gear hobbing machine, this automobile manufacturer signed a deal with the Hermann Pfauter of Germany. Automobile business of this company was shifted to Ind Auto Limited.
In 2000, Premier released production, under license from Taiwan’s China Motor Corporation, of the Premier Sigma and Roadster vans and pickups.
In 2001, PAL has signed a deal with the Mitsubishi Motor Group Corporation to produce ‘Varica’ model.
In November 2004, this automobile manufacturer restarted its operations by producing the Sigma, a small diesel powered van.
On 10 February 2005, this brand rolls out Sigma, Roadster. On 24 January, multi-purpose automobiles roll out by this automaker.
In 2008, this company has appointed Mrs. Kavita Khanna as director.
In October 2009, this company re-entered the Indian passenger automobile with the Rio, a compact – size SUV.