Volvo bets big on affordable EX30 to drive U.S. sales in 2025

Volvo is looking to ramp up its U.S. sales this year, in part by building on the massive success of the all-electric EX30 in Europe.

The details: The lower-cost all-electric Volvo EX30 has become one of Volvo’s best-selling vehicles, less than two years after the automaker started delivering models of the SUV – helping to boost the automaker to a global sales record.

• Volvo sold nearly 100,000 units of the all-electric EX30 in 2024 (98,065), the first year the EV was on the market – as the company ramps up deliveries of the SUV in the U.S.

• The automaker sold nearly 352,800 electric vehicles (EVs) and plug-in hybrids (PHEVs) in 2024, up 33% from 2023.  Sales of fully electric vehicles surged 54%.  

• Volvo sold a total of 763,300 vehicles globally in 2024, up 8% from 2023, with fully electric vehicles accounting for 175,194 of those sales.  

Between the lines: The sales success of the all-wheel-drive EX30 in Europe is largely attributed to the low cost of the all-electric Volvo, which has a starting price of 36,000 euros ($37,000 USD), making it one of the most affordable EVs in Europe.

• The current EX30 model available in the U.S. features a Twin Motor configuration, which starts at $46,195, with an estimated driving range of 253 miles.

• Volvo’s lower-cost single motor configuration of the EX30 – which will be available in early 2025 – will start at $36,245, with a driving range of 275 miles.

And while the EX30 does not qualify for the $7,500 federal tax credit, Volvo drivers can trade in their current lease and earn $500. Plus current lessees of a Front Wheel Drive EX30, XC40, XC60, or XC90 lessees can upgrade to an AWD model and receive an additional $1,000.

Bottom line: The all-electric EX30 seems well poised to help boost Volvo’s sales in the U.S., given that the cost of EVs continues to be a major barrier for many U.S. car buyers in the market for a vehicle.

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