Volvo Korea "Sales Target of 15,000 Units This Year... 50 Billion KRW Investment to Expand After-Sales Service"

[Asia Economy Reporter Su-yeon Woo] Volvo Cars Korea announced on the 11th that it has set a sales target of 15,000 units for this year and plans to invest 50 billion KRW to expand its service network.

Volvo Cars Korea set this year's sales target at 15,000 units, a 17% increase compared to last year. To match the growing sales volume and improve the quality of service, the growth rate of the service network was set at 18%, exceeding the sales growth rate.

They plan to newly open service centers in five locations: Gimhae, Guri, Seodaegu, Seoul Gangdong, and Gangnam Yulhyeon, and relocate and expand the Ilsan service center, establishing a total of 33 networks. To provide more professional, prompt, and accurate service in line with the increasing number of vehicle registrations, aggressive investments such as a 20% expansion of work bays will continue.

Additionally, to increase customer touchpoints, three more official Volvo Cars showrooms will be opened, operating a total of 31 showrooms. Furthermore, in the second half of the year, they will introduce a total of four SELEKT certified pre-owned car showroom networks, including an additional SELEKT opening targeting the Busan area.

Volvo Cars XC Range

Volvo Korea Achieves 21% Sales Growth Last Year... Joins '10,000 Club' for Two Consecutive Years

Last year, Volvo Korea's domestic sales recorded 12,798 units, a 21% increase compared to the previous year, successfully joining the '10,000 Club' for two consecutive years. By model, the compact sport utility vehicle (XC40) sold the most with 2,555 units, and by vehicle type, the sedan (S range) showed the highest sales growth rate of 52%.

The sedan (S range) models, including the new S90 and S60, recorded sales of 3,894 units, a 52% increase from the previous year due to the new car effect. Among the models, the S60 led the sales increase with 2,118 units, a 101.7% rise. The 60 cluster, which includes mid-size models such as the S60 and V60, accounted for 51.4% of total sales.

By powertrain, the mild hybrid model (MHEV), which began sales in September last year, recorded cumulative sales of 3,622 units within four months, accounting for 28% of total sales.

Volvo Korea Declares Diesel Sales Suspension, Strengthens Hybrid Lineup

Volvo Cars Korea was the first among Volvo sales countries to declare the suspension of diesel model sales last year and restructured the powertrains of all lineup models to hybrids. This year, as part of achieving a climate-neutral company by reducing carbon emissions by 2040, they plan to launch the XC90 and XC60 mild hybrid models in the first quarter.

Volvo Cars' First Mass-Produced Pure Electric Vehicle XC40 Recharge

Moreover, as part of Volvo Cars' electrification strategy, the brand's first 100% pure electric vehicle, the 'XC40 Recharge,' is also scheduled for domestic sales. The 'XC40 Recharge,' unveiled in October 2019 in the United States, comes equipped with the next-generation Google Android infotainment system as standard and can travel over 400 km on a single charge (based on WLTP standards).

Lee Yun-mo, CEO of Volvo Cars Korea, stated, "The driving force behind joining the 10,000 Club for two consecutive years is the increasing number of people who resonate with Volvo's firm philosophy on safety and its vision for the environment." He added, "This year as well, we will do our best to provide differentiated premium services and brand experiences."

This content was produced with the assistance of AI translation services.