Volvo Korea Doubles EV Sales... Flagship Showdown Planned for Second Half

Electric Vehicle Sales Surge 107% in the First Half

Flagship Models ‘EX90’ and ‘ES90’ to Be Delivered in the Second Half

Volvo Cars Korea more than doubled its electric vehicle sales in the first half of the year compared to a year ago. This result is attributed to both the effect of high oil prices and the price cuts implemented at the beginning of the year.

According to the Korea Automobile Importers & Distributors Association (KAIDA) on August 24, Volvo Korea sold 7,470 units domestically in the first half. Of these, pure electric vehicles accounted for 1,944 units, marking a 107% increase from the same period last year. For the first time since the company's establishment, electric vehicle sales surpassed plug-in hybrids (PHEVs).

Volvo Korea's electric flagships 'ES90'(left) and 'EX90'. Volvo Korea

The compact sport utility vehicle (SUV) 'EX30' and the cross-country model 'EX30CC' led sales growth. Sales of these two models rose 113% year-on-year, and the proportion of private customers reached 89%, exceeding the lineup average of 73%. In terms of individual purchases, there was a 152% increase.

With the aim of lowering the barriers to electric vehicle adoption and accelerating EV popularization, Volvo Korea adjusted the prices of these two lineups at the beginning of the year to be among the most competitive in the world.

The EX30 Core trim is being sold at 39.91 million won, down 7.61 million won from 47.52 million won, while the EX30 Ultra and EX30CC Ultra have been reduced by 7 million won each to 44.79 million won and 48.12 million won, respectively (after eco-friendly vehicle tax incentives). With government purchase subsidies, the actual purchase price drops even further. As a result, a remarkable 946 units of these two models were sold in June alone, ranking first in sales among premium compact electric vehicles.

To meet sustained demand, Volvo Korea is discussing additional supply for the second half of the year. Starting in the fourth quarter, the company plans to begin full-scale deliveries of its electric flagships, the 'EX90' and the 'ES90.' Each of these strategic models currently has more than 1,000 pre-orders.

Volvo Korea Electric Flagship 'ES90'. Volvo Korea

Volvo Korea Electric Flagship 'EX90'. Volvo Korea

The EX90 Twin Motor Plus is priced at 106.2 million won, while the ES90 ranges from 72.94 million won to 95.41 million won, depending on the trim. The company has set prices over 40 million won lower than those in major European markets. It also offers industry-leading benefits, such as a 5-year or 100,000-kilometer free warranty and free replacement of consumables, an 8-year or 160,000-kilometer high-voltage battery warranty, 15 years of complimentary over-the-air (OTA) updates, and a 5-year free 5G digital package, all as standard.

A Volvo Korea representative commented, "Although these flagship models incorporate the latest advanced technologies, we have set aggressive prices to popularize premium electric vehicles," adding, "With the full-scale launch of next-generation electric flagships in the second half, we aim to claim the top spot in the premium electric vehicle market."

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