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[Sponsored Report] Revamped Volvo lineup sees sales increase 25%

Nov 30,2018
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Volvo’s new S90 comes with a semiautonomous driving system and convenient features. [VOLVO]
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The interior of the Volvo S90. [VOLVO]
Volvo’s popularity in Korea is on the rise.

According to data compiled by the Korea Automobile Importers & Distributors Association, a total of 7,194 vehicles were sold in the first 10 months of this year, up 25.4 percent from the same period last year. This is well above the 14.4 percent increase average for imported car brands.

In terms of annual units sold, Volvo has grown by more than 20 percent for the fifth consecutive year and is on track to achieve its sales target of 8,500 vehicles this year. The key to Volvo’s growth is its solid lineup, high sensitivity to market trends, quality manufacturing, advanced safety devices based on accumulated safety know-how and aggressive pricing.

In 2016, Volvo has introduced its new high-performance range, including the mid-size SUV XC60 and the compact SUV XC40, starting with the new fully-changed XC90. Based on the success of these vehicles, Volvo is developing a lineup that targets the needs of a wide range of customers, from the current entry-level Cross Country (V40) all the way up to its high-end SUV lineup.

Volvo’s new start as a modern luxury brand is represented by the use of the Thor’s hammer motif. The brand uses high-quality Scandinavian design that combines functionality with the philosophy of “human-centric” simplicity and the best semiautonomous systems.

Volvo is also pulling in younger consumers of luxury vehicles. Customers in their 30s and 40s made 48 percent of Volvo purchases this year, a higher share than the three premium German brands.

In terms of purchase type, 69.2 percent of cars bought were for personal use, showing that Volvo is a young and dynamic brand. In addition, Volvo launched the S90 2019 with enhanced price competitiveness and marketability in order to expand the sedan market, which accounts for more than 67 percent of the domestic imported car market. Through this, Volvo is planning to continue its growth by absorbing new customers seeking new premium sedans.

The new S90 sedan has a semiautonomous driving system and convenient features that incorporate Volvo’s latest technology. Despite being a four-cylinder 2.0-liter gasoline engine, it has a maximum output of 254 horsepower and a maximum 35.7 torque with a Drive-E Powertrain that is designed to increase fuel efficiency and reduce emissions.

By installing a drive mode selector and dynamic chassis that support four modes — eco, comfort, dynamic and individual — Volvo has made the car fun to drive. In addition, the automaker’s latest semiautonomous driving technology, including Pilot Assist and Adaptive Cruise Control, as well as best-in-class safety features such as City Safety, road departure prevention and protection and blind zone information are included.

The Volvo S90 is available in the momentum (59.3 million won or $52,980) and inscription (65.9 million won) trims and is 6 million won cheaper than the 2018 model in order to target the sedan market. It also offers the industry’s best five-year or 100,000-kilometer (62,137-mile) guarantee, giving buyers the opportunity to become luxury sedan owners on more reasonable terms.

By Kim Ha-eun [kim.haeun@joongang.co.kr]