In the early 1990s, when Mehta already had 15-20 cars in his garage, he might not have minded paying Rs 45 lakh for a Lexus LS 400. The LS 400 was one of the first premium luxury sedans to come standard with an automatic telescopic and tilt steering wheel as well as SRS airbags, electrically adjustable seat belts and an electrochromic rearview mirror. Lexus LS 400 is a flagship luxury sedan powered by 4000 cc engine which is mated to 4 speed automatic transmission. It took 8.5 seconds to accelerate from 0 to 100 kmph, while its top speed was 250 kmph.
Lexus LS400 caused the downfall!
You may have heard: “Sometimes the things you love the most turn out to be the most harmful to your health.” Harshad Mehta’s car played an important role in his downfall. Sucheta Dalal, a columnist for The Times of India at the time, saw the LS 400 outside the State Bank of India headquarters and wondered how a stockbroker could buy a car that was yet to be launched in India.