Every new Volvo car now comes with a limited top speed of 112mph, as Volvo Cars delivers on its promise made last year to introduce such a limitation and goes beyond regulation and legislation to help close the remaining gap to zero serious injuries and fatalities in traffic.
As well as the speed cap, every Volvo car will now also come with a Care Key, which allows Volvo drivers to set additional limitations on the car’s top speed, for example before lending their car to other family members or to younger and inexperienced drivers.
Together, the 112mph speed limitation and Care Key send a strong signal about the dangers of speeding, underlining Volvo Cars' position as a worldwide leader in safety. Both features illustrate how car makers can take active responsibility for striving to achieve zero traffic fatalities by supporting better driver behaviour.
“We believe that a car maker has a responsibility to help improve traffic safety,” said Malin Ekholm, head of the Volvo Cars Safety Centre. “Our speed limiting technology, and the dialogue that it initiated, fits that thinking. The speed cap and Care Key help people reflect and realise that speeding is dangerous, while also providing extra peace of mind and supporting better driver behaviour.”
The top speed limit has proven to be controversial since it was announced, with some observers questioning the rights of car makers to impose such limitations through available technology.
Yet Volvo Cars believes it has an obligation to continue its tradition of being a pioneer in the discussion around the rights and obligations of car makers to take action that can ultimately save lives, even if this means losing potential customers.
The problem with speeding is that above certain speeds, in-car safety technology and smart infrastructure design are no longer enough to avoid severe injuries and fatalities in the event of an accident.
This is why speed limits are in place in most western countries, yet speeding remains ubiquitous and one of the most common reasons for fatalities in traffic. Millions of people still get speeding tickets every year.
Research shows that on average, people have poor understanding of the dangers around speeding. As a result, many people often drive too fast and have poor speed adaption in relation to the traffic situation.
Apart from speeding, intoxication and distraction are two other primary areas of concern for traffic safety and that constitute the remaining gap towards Volvo Cars’ vision of a future with zero traffic fatalities and serious injuries. It is taking action to address all three elements of human behaviour in its safety work, with more features to be introduced in future cars.
Volvo Car Group in 2018
For the 2018 financial year, Volvo Car Group recorded an operating profit of 14,185 MSEK (14,061 MSEK in 2017). Revenue over the period amounted to 252,653 MSEK (208,646 MSEK). For the full year 2018, global sales reached a record 642,253 (571,577) cars, an increase of 12.4 per cent versus 2017. The results underline the comprehensive transformation of Volvo Cars’ finances and operations in recent years, positioning the company for its next growth phase.
About Volvo Car Group
Volvo Cars was founded in 1927. Today, it is one of the most well-known and respected premium car brands in the world with sales of 705,452 cars in 2019 in about 100 countries. Volvo Cars has been under the ownership of the Zhejiang Geely Holding since 2010.
In 2018, Volvo Cars employed on average approximately 43,000 (39,500) full-time employees. Volvo Cars head office, product development, marketing and administration functions are mainly located in Gothenburg, Sweden. Volvo Cars head office for APAC is located in Shanghai. The company’s main car production plants are located in Gothenburg (Sweden), Ghent (Belgium), South Carolina (US), Chengdu and Daqing (China), while engines are manufactured in Skövde (Sweden) and Zhangjiakou (China) and body components in Olofström (Sweden).
Under its new company purpose, Volvo Cars aims to provide customers with the Freedom to Move in a personal, sustainable and safe way. This purpose is reflected into a number of business ambitions: for example, by the middle of this decade it aims for half of its global sales to be fully electric cars and to generate half of its revenue from its direct consumer business. Volvo Cars is also committed to an ongoing reduction of its carbon footprint, with the ambition to be a climate-neutral company by 2040.