Volvo has followed through on its plans to introduce a 112-mph (180-km/h) speed limit across its entire model lineup, today announcing that every one of its vehicles to roll off the production line will now feature this functionality built in.
The Swedish automaker first floated the idea of limiting the speed of its vehicles last year, and was met with mixed responses, by its own admission. Whether it should be up to carmakers to impose such rules on road users is the point of controversy, but Volvo is pushing ahead with its safety-first approach, intent on sending a message about the dangers of speeding.
The built-in speed limiter will also be complemented by a Care Key. Included with all Volvo vehicles, the feature enables owners to set extra limits on the car’s speed as they see fit. This could suit parents lending their cars to younger and inexperienced drivers, for example.
“We believe that a car maker has a responsibility to help improve traffic safety,” says 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 realize that speeding is dangerous, while also providing extra peace of mind and supporting better driver behavior.”
Source: Volvo
Also, you have to overengineer cars around their top speed and bringing that top speed down saves resources.
Or "lack of functionality".