Volvo EX30 to become a best seller as the first models reach EU buyers

Don’t underestimate the small size. As the first EX30 models reach European buyers, Volvo sees it as a best seller over the next few years. In June, Volvo unveiled its smallest and cheapest SUV, the EX30 ( ). The Swedish automaker calls the electric SUV a “cornerstone” of its EV plans. Starting at $34,950 (36,000 euros), it will be one of the most affordable electric cars on the market.

With “above expected order rates,” Volvo will at its Ghent, Belgium plant (in addition to China) to meet the growing demand in Europe for low cost EVS. Although EU production isn’t expected to begin until 2025, Volvo revealed the first EX30 models were handed over to customers last month. In December, Volvo in Belgium, The Netherlands, Spain, and Portugal in one of the most highly anticipated EV rollouts.

The company said the first EX30 deliveries mark a “significant milestone” in the company’s growth and EV strategies. Volvo expects the EX30 to become “one of your best sellers in the coming years.” With “above expected order rates,” the EX30 is drawing significant attention. Despite a slowdown in December, Volvo hit a in 2023.

Volvo’s EV sales were up 70% last year, with over 113K purely electric vehicles sold. Volvo’s EVs accounted for 16% of total sales, up from 10.9% in 2022. However, Volvo expects to turn things up this year with a full year of EX30 sales. CEO Jim Rowan said he expects “reasonably decent volumes” in 2024 with new models launching in key segments.

Volvo’s first three row electric SUV, the EX90, will go on sale soon. It will start at $76,695 in the US as a direct rival to the and Mercedes EQS. In China, Volvo is also launching its , the EM90. The EV minivan features a “Scandinavian living room” and up to 450 mi CLTC range. Rowan is “not seeing any order cancellations or any slowdown in order intake” last month when asked about the “reported slowdown.” Volvo Car USA spokesperson Russell Datz told Volvo EX30 deliveries are in the US this summer.

The electric SUV will be available in two powertrains: Single Motor Extended Range and Twin Motor Performance. The extended range model features up to 275 miles range while the Performance variant gets 265 miles. Meanwhile, with 422 hp and 400 lb ft of torque, the performance version is Volvo’s quickest car yet.

It can go from 0 to 60 mph in 3.4 seconds. You can learn more about the EX30 and reserve your model on . Volvo says a dealer will help finalize the process ahead of deliveries. Volvo is launching the EX30 at the perfect time. Demand for affordable electric cars continues building. In the US, two of the cheapest EVs, the Chevy Bolt and Nissan LEAF, are due for replacements.

GM already stopped building the low cost Bolt at the end of 2023 (although while in stock). The Bolt EVs replacement isn’t due out until next year, giving the EX30 a full sales year to get ahead. The same situation is happening in Europe. Several automakers are targetting the low cost EV market, including Stellantis with the .

The electric car starts at around 23,000 euros (24,500) as one of Europe’s most affordable EVs. Volkswagen also plans to launch its $27,000 (25,000 euro) EV, the ID 2all. However, a recent local media report suggests VW by another year, giving Volvo a bigger window to expand. What do you guys think? Will the Volvo EX30 become a best seller? Let us know what you think in the comments.

and subscribe to the . Peter Johnson is covering the auto industry’s step by step transformation to electric vehicles. He is an experienced investor, financial writer, and EV enthusiast. His enthusiasm for electric vehicles, primarily Tesla, is a significant reason he pursued a career in investments.

If he isn’t telling you about his latest 10K findings, you can find him enjoying the outdoors or exercising.