Volvo indicated that new vehicles will come equipped with speed limiting features, where Volvo branded cars will only accelerate to 112Mph. Volvo vehicles will also be equipped with Care Key, which will allow drivers to set additional speed limits on their cars.
The company released a statement on the rationale behind the speed limiting features, "Volvo Cars believes it has an obligation to continue its tradition of being a pioneer in the discussion around the rights and obligations of carmakers to take action that can ultimately save lives, even if this means losing potential customers."
Overall it is clear that Volvo is taking a proactive approach to reducing the number of speed-related crashes. The new speed limiting capabilities may also entice safety-conscious consumers.
Speed-Restricted Car Features
Volvo Will Include a Speed Limiting Feature on Future Car Models
Trend Themes
1. Speed-limiting Features - The trend of speed-limiting features in vehicles will increase as consumers prioritize safety over speed.
2. Care Key - The Care Key trend is gaining popularity as car manufacturers strive to give drivers more control over how their vehicles are used, creating opportunities for further customization.
3. Pioneering Safety Features - Innovation in pioneering safety features will continue to drive growth for carmakers that prioritize safety as a top concern while giving peace of mind to safety-conscious consumers.
Industry Implications
1. Automotive - The automotive industry will continue to see growth and demand for safer vehicles through innovation in speed-restricting features and customized controls for drivers.
2. Insurance - Insurance companies may need to reassess and adjust their policies and premiums based on the new safety features that are becoming increasingly prevalent in the automotive market.
3. Technology - The technology industry will see opportunities to develop and implement new safety features to meet demand while also partnering with car manufacturers to create and integrate these features into vehicles.