Volvo Trucks Korea aims to take nation's No. 2 spot by 2020

The South Korean sales unit of Swedish commercial vehicle brand Volvo Trucks said Thursday it aims to become the second-largest player in the country by securing 20 percent of the market share in the next three years.

At a press conference held to mark the 20th anniversary of Volvo Trucks’ operation here, its local manager Kim Young-jae said the company plans to achieve the goal by selling around 4,000 units annually, a sales volume enough to compete with domestic brands. Currently, Volvo Trucks is the top commercial vehicle importer here and the third after two domestic brands, Hyundai and Tata Daewoo.

“Securing customer trust is important in achieving the goal, and to increase customer satisfaction, we will build more than 40 service centers (across the country) by 2020 as well,” said Kim.

Last year, Volvo Trucks Korea sold more than 2,000 units here for the first time. In the first four months of this year, the truck maker has remained top in the imported vehicle segment, the company said, citing recent data from the Korea Automobile Importers and Distributors Association

Helene Mellquist, head of Volvo Trucks’ international sales division, stressed that the South Korean market is important for the Swedish carmaker, noting that it is the 10th-largest market in terms of revenue. Since 1997, Volvo Trucks has sold nearly 20,000 units here, she added.

Mellquist said the company would experiment with its future concept in South Korea if possible, calling the country one of the most innovative and connected markets.

Pilot projects such as autonomous and electric trucks are underway, Mellquist added. The company invests 5 percent of its revenue or 5 billion krona ($576 million) a year to the research and development of future technology, she added.

By Cho Chung-un (christory@heraldcorp.com)