Volvo Korea Surpasses 100,000 Units in Total Domestic Sales

[Asia Economy Reporter Hyunseok Yoo] Volvo Cars Korea announced on the 5th that it has achieved cumulative domestic sales of 100,000 units as of November.

According to the Korea Automobile Importers & Distributors Association (KAIDA), Volvo Cars Korea's cumulative sales as of November this year total 101,079 units. Since entering the Korean market with the 700 series in 1987, Volvo Cars Korea has achieved double-digit annual sales growth for 10 consecutive years since 2012. This is the first record in the history of the domestic imported car market and the only achievement within the Volvo Car Group.

Volvo Cars Korea's remarkable growth was driven by active investment in the Korean market. Since 2016, it has introduced new and facelifted models every year and invested 30 billion KRW to develop the integrated infotainment service ‘TMAP Infotainment Service’ in collaboration with TMAP Mobility, which has been standard equipment on all models since the 2023 model year.

Additionally, to expand Volvo Cars showrooms and service centers nationwide, it has invested approximately 250 billion KRW over the past five years and plans to invest 150 billion KRW over the next five years, aiming to expand customer touchpoints to provide a premium experience.

As the first in Asia, Volvo launched the integrated service brand ‘Service by Volvo’ in Korea in 2020, striving for qualitative growth as well. As a result, it earned the honor of ranking first overall in product satisfaction and first in after-sales service satisfaction in the Consumer Insight ‘2022 Automobile Planning Survey’ announced this year.

In line with the global eco-friendly vision to achieve carbon neutrality by 2040, Volvo Cars Korea has completely excluded diesel engine sales from the 2021 model year onward. Since 2019, it has been implementing a company-wide ban on single-use plastics under the ‘Single-Use Plastic Restriction’ initiative. It also conducts the eco-friendly running campaign ‘Hey, Plogging,’ which involves picking up trash while running, every year, fulfilling its social responsibility for a sustainable future.

Yoon Mo Lee, CEO of Volvo Cars Korea, said, “Volvo Cars’ differentiated strategy for the Korean market has resulted in the milestone of 100,000 units sold. We will continue our efforts in various ways so that customers can experience the smart advanced safety and human-centered values offered by Swedish luxury.”

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