Volvo Car Korea achieved a cumulative sales figure of 100,000 vehicles in November. This marks a significant milestone, establishing Volvo Car Korea’s differentiated position as a ‘Swedish luxury automobile brand’ in the domestic import car market, which is dominated by German brands.
According to KAIDA (Korea Automobile Importers & Distributors Association), as of November this year, Volvo Car Korea has sold a total of 100,079 vehicles. Volvo entered the Korean market in 1987 with the 700 series and has achieved double-digit growth in annual sales for 10 consecutive years since 2012. This is a historic first for the domestic import car market and a unique accomplishment within the Volvo Car Group.
The remarkable growth of Volvo Car Korea can be attributed to aggressive investments in the Korean market. Since 2016, they have introduced new and partially changed models each year, investing 30 billion won to develop the integrated infotainment service ‘TMAP Infotainment Service’ in collaboration with TMAP Mobility, which will be standard equipment on all models starting from the 2023 model
To expand nationwide display and service centers, Volvo plans to invest approximately 250 billion won over the past five years and intends to invest another 150 billion won over the next five years, aiming to enhance customer experience.
To enhance brand engagement, they have consistently rolled out various customer touchpoint activities, including the ‘Hej campaign – Hej Familj, Hej Klass’, and launched the first integrated service brand ‘Service by Volvo’ in Asia in 2020, striving for qualitative growth. As a result, in the 2022 Consumer Insight ‘Automotive Planning Survey’, they achieved first place in overall product satisfaction and after-sales service satisfaction.
Furthermore, aligned with their global vision for carbon neutrality by 2040, Volvo Car Korea has completely excluded diesel engine sales since 2021 models. Since 2019, they have been fully committed to the ‘Restriction on the Use of Disposable Plastics’, halting the use of disposable plastics across the company. They also conduct an eco-friendly running campaign called ‘Hey, Plogging’ every year, fulfilling their social responsibility for a sustainable future.
Lee Yun-mo, CEO of Volvo Car Korea, stated, “The differentiated strategy of Volvo Cars for the Korean market has led to this achievement of 100,000 vehicle sales. We will continue to make various efforts so that customers can experience the smart, advanced safety, and human-centric values that Swedish luxury offers.”
Meanwhile, Volvo Car Korea continues to invest significantly in the domestic market by providing industry-leading warranties of 5 years or 100,000 km, implementing a lifetime parts guarantee system since 2020, and expanding coverage of warranty for plug-in hybrid (PHEV) high-voltage batteries since 2021.
Lee Sang-jin daedusj@autodiary.kr