Volvo, the Swedish automaker, commenced sales of its latest and potentially pivotal vehicle, the EX30, in November. Positioned as Volvo's most economical and compact offering to date, the electric vehicle (EV) targets a demographic the brand is not traditionally associated with.
Unveiled in June, the EX30 is designed to appeal to younger buyers, offering a spirited and enjoyable driving experience infused with Volvo's distinctive Scandinavian design elements. The company envisions the EX30 as a transformative player in the affordable everyday EV segment, referring to it as the “cornerstone” of Volvo's electrification strategy.
Anticipating significant demand, Volvo has expanded production of the EX30 to Belgium, supplementing its manufacturing operations in China. The latest update indicates that the first batch of EX30 models started rolling out in November, with 33 units sold as production scales up for the upcoming year.
This positive development contrasts with Volvo's overall EV sales, which experienced a 14% decline last month. Globally, the company sold 10,031 fully electric vehicles in November, down from 11,644 in the previous year. Notably, the US market witnessed the most substantial decrease, with a 22% drop to 840 EVs sold.
In contrast, Volvo's electric vehicle sales in China saw a notable 34% year-on-year growth, though the absolute number was relatively modest at 264 EVs. Overall, Volvo's electric vehicle sales have surged by 94% this year, with over 101,000 fully electric vehicles sold through November.
Breaking down the regional performance, Volvo's EV sales have increased by 109% in the US, 90% in Europe, and 36% in China this year. The sales figures for specific electric models, such as the C40 and XC40 Recharge, also reflect positive trends, with a 76% and 23% year-on-year increase, respectively.
Mike Cottone, President of Volvo Car US, expressed confidence in the growing demand for Volvo's Recharge vehicles, projecting a fully electric portfolio for the company by 2030. Cottone believes that the addition of models like the EX30 and EX90 will further propel Volvo's momentum in the electric vehicle market.
The EX30, with a starting price of $34,950 in the US, is available in two powertrain options. The Single Motor Extended range variant boasts a range of up to 275 miles, while the Twin Motor Performance variant, starting at $44,900, claims to be Volvo's fastest accelerating vehicle ever, with a 0-60 mph time of 3.4 seconds. Pre-orders for the EX30 are currently being accepted in the US, with deliveries expected to commence in the first half of 2024.