Volvo Car Korea Joins the '10,000-Unit Club' for 8th Straight Year, Targets 'Value and Premiumization' with EX90 and ES90

EV sales up 152%... priced over KRW 50 million below European markets

Volvo Car Korea is increasing its share of South Korea’s premium electric vehicle market by pursuing an aggressive pricing policy centered on electrified models. Following the EX30, a compact sport utility vehicle (SUV) priced in the KRW 30 million range, the company aims to sustain its sales momentum with its next-generation all-electric flagships, the EX90 and ES90.

Volvo Cars' all-electric SUVs, the EX90 (rear) and EX30. Volvo Car Korea.

According to the Korea Automobile Importers & Distributors Association, Volvo Car Korea sold 1,414 vehicles in September, an 84% increase from the previous month. Electric vehicles accounted for 61.3% of sales, or 867 units. The EX30 and EX30 Cross Country (EX30CC) sold 552 units, while the EX90 and ES90, some of which were delivered ahead of their official launch, recorded combined sales of 315 units.

From January through September this year, all-electric vehicles accounted for 28% of Volvo Car Korea’s cumulative sales of 10,612 units, or 2,983 vehicles, a 152% increase from the same period last year. The company has now achieved annual sales of more than 10,000 vehicles for eight consecutive years since its incorporation, a milestone reached by only three brands in the imported-car market. The keys to its growth are its unmatched price competitiveness and lineup strategy.

Earlier this year, Volvo Car Korea cut the EX30’s domestic prices by up to KRW 7.61 million, depending on trim, setting the starting price at KRW 39.91 million. With EV subsidies, it can be purchased for a price in the KRW 30 million range. With cumulative sales of 1,833 units, it remains the top-selling premium compact EV.

The EX90 and ES90, which begin full-scale deliveries this month, also feature an aggressive pricing policy. Their prices are more than KRW 50 million lower than in major European countries, placing them among the lowest-priced globally. The EX90 starts at KRW 106.2 million, KRW 10 million less than the internal-combustion-engine XC90 T8, while the ES90 starts at KRW 72.94 million, up to KRW 18 million less than the S90 T8.

Volvo Cars' next-generation all-electric flagship models, the EX90 (right) and ES90. Volvo Car Korea

Both flagship models are built on the next-generation intelligent platform HuginCore and feature advanced technology that processes data on its own, as well as an 800V fast-charging system. The ES90, in particular, has attracted strong market interest, with pre-orders approaching 4,000 units. A Volvo Car Korea representative said, “We plan to step up our efforts to become the leader in the premium EV market, backed by a robust model lineup and exceptional price competitiveness.”

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