Volvo Car Korea (Volvo) said on the 18th that it has reached cumulative sales of 150,000 vehicles since entering Korea. The XC series, led by the midsize sport utility vehicle (SUV) XC60, is credited with driving Volvo's overall growth.
Volvo, which first entered the domestic market in 1988, showed steep growth from the mid-2010s. Starting with sales of 4,254 vehicles in 2015, it increased to 5,112 in 2016, 6,516 in 2017, and 8,450 in 2018. Hitting 10,783 in 2019 to surpass 10,000 for the first time, Volvo has since reached the "annual sales of 10,000" mark every year through last year, pushing its total past 150,000.
Volvo cited a lineup not skewed toward specific models as a reason for its growth. The XC60, which represents Volvo and is the most favored by consumers, anchors the lineup, but flagship models such as the large SUV XC90 and the S90 are also posting steady sales. The ES30, a small electric SUV launched domestically last year, also drew a positive response.
It also said stronger product competitiveness than rival models has fueled growth. For the Korean market, Volvo invested 30 billion won with Tmap to develop the "integrated Tmap infotainment system." It supports Naver's in-car Whale browser, and since Jul. it has introduced "Volvo Car UX" in the new XC90 and S90. Volvo has expanded the application of "Volvo Car UX" to vehicles equipped with Tmap infotainment.
In addition, Volvo provides general parts warranties and consumables exchange services for vehicles within five years or 100,000 kilometers, and offers free over-the-air updates for 15 years as standard.
Volvo is reorganizing its lineup in preparation for the electrification era. Based on its next-generation pure-electric flagship models EX90 and ES90, Volvo plans to set new standards for safety and user experience in the electrification era through a "software-defined vehicle (SDV)" strategy.