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6 years of Volvo’s luxury positioning in Vietnam

From a car company that most Vietnamese can’t read, Volvo achieved an average compound growth rate of 64%, selling nearly 1,000 cars in Vietnam in 2021.

Savico brought Volvo to Vietnam for genuine business at the end of 2016, when the market did not have many concepts about Volvo’s new car lines, which were positioned as luxury by the Swedish company. At that time, Volvo was better known for specialized vehicles, such as construction trucks or excavators.

Where will Volvo be located in the Mercedes, BMW, Audi?

XC60 - Volvo's best-selling model in Vietnam.  Photo: Volvo.

XC60 – Volvo’s best-selling model in Vietnam. Photo: Volvo.

5 years since the first genuine Volvo was imported and distributed by Nordic Automobile Joint Stock Company (under Savico), Vietnam is recognized by Volvo as one of its fastest growing global markets. The total number of Volvo cars sold in Vietnam in 2017 was 118 units, but by 2021, this number will be nearly 1,000 units. During this time, the company posted an average compound growth rate of 64%. Mid-size SUV XC60 is the best-selling model, accounting for 50% in the period 2017 – 2021.

For luxury car manufacturers, the brand story, product quality and service are one of the key factors determining success. At Volvo, the company’s story is about safety, simple design, emphasis on typical Swedish flair, and the Lagom philosophy, just enough.

Volvo XC90 is the flagship of the Swedish company.  Photo: Volvo.

Volvo XC90 is the flagship of the Swedish company. Photo: Volvo.

Simplicity seems unreasonable for luxury cars, but it is a guideline in the philosophy and design of Volvo cars. A representative of the company in Vietnam said that Lagom brings balance and harmony between the contours and appearance of the exterior with the sound and light in the cabin. “Simple in design, but Volvo cars have sophistication in materials used. Lagom is an interesting extreme for customers who use luxury cars, not too ostentatious and less outdated after many years of use”, representative of Savico speak.

This company said that, appearing at the launch ceremony of the XC60 T8 Recharge in Ho Chi Minh City, a nearly 65-year-old customer shared that he ordered the XC60 for his daughter to “drop her to school safely”. “We have a lot of customers in this group, have used many luxury cars from Europe, and come to Volvo because of its luxury but not too flashy, safe and easy to use,” said a representative at Volvo Cars. Vietnam said.

Volvo XC40 electric version.  Photo: Volvo.

Volvo XC40 EV version. Photo: Volvo.

One of Volvo’s signature values ​​is safety technology. This company integrates a series of safety functions for the vehicle such as: active safety City Safety, intelligent driving assistance Pilot Assist, cross-collision warning Cross Traffic Alert … According to Volvo, its safety technology saves millions of lives every year around the globe, helping Volvo Cars win great awards such as: World Car of the Year, European Car of the Year…

Most recently, Volvo XC90 and S90 respectively won the “High-rise mid-size luxury car” and “Low-ground midsize luxury car” awards of the year, respectively. Car Awards 2021 do VnExpress organization.

Volvo is also no exception to the global electrification trend, when it sets a target that 100% of Volvo cars sold in 2030 will be pure electric, and by 2040 will bring emissions to zero. Distributor Savico also intends to supply line of fully electric vehicles, self-driving cars for the domestic market in the coming time.

Quang Anh

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