Volvo Truck Korea aims to more than double its Korean truck sales this year to 1,000 units, according to a report in the Korean Herald. In 2001, Volvo managed sales of 486 units.
Han Young-chul, president and CEO of Volvo Truck Korea, told the Herald that the local affiliate of the world’s largest truck producer plans to introduce a wholly new model in Korea next year, as part of its strategy.
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“Volvo Korea is now trailing Scania Korea in the local truck market at a market share ratio of 13 percent to 6 percent. But Volvo aims to expand its local share to 8 percent to 10 percent by selling 800 to 1,000 vehicles this year,” Han told the Herald.
Han also forecast that total Korean truck sales would grow by 26 percent to over 10,000 units in 2002. In 2001, the truck market grew 11 percent to 7,942 units. He also said that 2003 and 2004 are expected to post ‘huge growth’ according to the newspaper.
