Volvo Cars India Sponsors IPL Team Hyderabad Sunrisers
The IPL (Indian Premier League) not just woo the Indian cricket lovers but also attracts Auto Industrialists to promote their vehicles. This time, the Swedish auto-major, Volvo Cars have announced their alliance with the Sunrisers Hyderabad. The company is now the official sponsors for this team as they start their proceedings for the first time at the IPL 2013.
The auto-major had earlier also associated with sports and sponsored other sporting events such as Golf tournaments, the Chennai Open and now looks forward to sponsor the fascinating IPL team. The company sold number of vehicles in Hyderabad and it has been a very important market for Volvo in India. To celebrate this association with the IPL games, Volvo had organized a special event held at ITC Kakatiya. Currently, the auto-major sells four luxury models in India – Volvo XC 90, the Volvo XC 60, S 80 and S60 sedan.
We reported that Volvo is planning to open a local production unit in India to make their vehicles price competitive. The company aims to sell around 20,000 units every year in India by 2020, while in last fiscal company sold 820 luxury vehicles and hopes to increase its number to 1200 units in 2013. Since its introduction in the Indian auto industry, all its vehicles comes via CBU route making them pricy, and now the current union budget with a hike of 25 per cent in excise duty on importing has forced to take such decision of local operations.
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