Volvo said on Tuesday that it expects to meet its target of selling 15,000 units of vehicle in South Korea this year.
The company is also aiming to sell 25,000 vehicles annually in the country within the next five years.
Volvo launched its new SUV XC60 in the country on Tuesday.
The company said it has sold 1.68 million units of the SUV worldwide so far.
It expects to sell 3,000 units of them in South Korea this year.
The firm had sold 10,000 units of vehicles in the country up to August, which means its goal of selling 15,000 units will likely be achieved without a problem, the company said.
Volvo’s South Korean subsidiary recorded 623 billion won in sales and 5.9 billion won in operating income in 2020, an increase of 9.86% and 68.57%, respectively, from a year ago.
The company said its new integrated infotainment system on the XC60, co-developed with local carrier SK Telecom, was behind the popularity of the model.
It has spent 30 billion won in developing the system, the firm said.