Swedish automakers Volvo Cars have made an announcement that they are associating themselves with IPL as the official sponsors of Sunrisers Hyderabad. The company will be official sponsors for this team as they make their debut at the IPL 2013 which has got off to a flying start.
Is this first time Volvo Cars India associating with sports? Earlier too they have have sponsored other sporting events such as Golf tournaments, the Chennai Open and now looks forward to sponsoring the IPL team. Hyderabad has been a key market for Volvo and to celebrate its association with the IPL games, a special event was held at ITC Kakatiya.
Volvo Cars currently sells four luxury models – the Volvo XC 90, a seven seater luxury SUV, the Volvo XC 60, a compact SUV, S 80 sedan and S60 a sporty sedan. The V40 Cross Country launch is awaited. Cricket and Cinema, both have been an integral part of the Indian culture and they both rule the hearts of millions of Indians. Volvo seems pretty excited for experiencing a thrilling journey of IPL.
As we earlier reported that, Volvo Cars India has set targets to sell a total of 20,000 units in India by 2020, while they sold 320 units in 2011. During 2012, Volvo sold 820 luxury vehicles in India, which they hope will increase 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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