Swedish luxury carmaker Volvo Car launched the all-new XC90, a seven-seater premium SUV, in Seoul on Wednesday and started accepting preorders.

The company hopes that its latest flagship SUV will fuel growth momentum in Korea, one of the world’s most dynamic markets for luxury carmakers.

“Considering the fast-growing premium SUV market in Korea, the company has set the annual sales target for XC90 at 5,000 units,” Volvo Car Korea CEO Lee Yun-mo told The Korea Herald. The sales goal for the single car model is higher than the 4,238 units that Volvo Korea sold in 2015.

The somewhat bold proposed figure reflects the carmaker’s confidence on its completely-redesigned luxury SUV.

Volvo’s latest luxurious SUV has inherited the brand’s safety legacies. Its exterior features a visually striking Scandinavian design while its interior has been upgraded based on state-of-the-art but human-centric design philosophy.

To compete with existing German rivals in the market, Volvo Car Korea has presented an attractive price package for the diesel-powered XC90, which will start at 80.3 million won ($65,115). The company also offers all XC90 buyers a five-year or 100,000 km warranty program. It is a rare for a foreign carmaker to run a long-term warranty program. 

The Swedish carmaker will also debut the all-new S90 -- its flagship luxury sedan -- in Korea in the latter part of the year.

By Seo Jee-yeon (jyseo@heraldcorp.com)