The slowdown in demand for electric cars does not suit Volvo, which has a record thanks to its new EX30
The slowdown in demand for electric cars does not suit Volvo, which has a record thanks to its new Volvo EX30
After a month of sales, the Volvo EX30 has already been a success. Despite delays caused by a software issue, the Swedish brand’s new electric compact SUV has made an excellent first impression on the European market. They are even going so far as to encourage Volvo to sell more electric cars than ever before.
Furthermore, despite a 2% decline in the brand’s global sales last month, Volvo’s electric vehicle market share reached an all-time high. Of all the Volvo cars sold in February, 22,266 plug-in vehicles (PHEV and electric) accounted for 44%.
Regarding electric cars, about 11,000 were sold, accounting for 22% of all sales for the first time and showing a 14% rise from the previous year. However, use caution since 5,863, or more than half, matched the Volvo EX30, whose commercial debut is still pending.
Volvo will steadily expand to become a fully electric brand by 2030. The EX30 is expected to be the best-selling product in the upcoming years, so much so that starting in 2025, it will also be produced in Europe and China. Its most outstanding qualities are its eye-catching appearance, robust technology, and affordable pricing (starting at 36,770 euros in Spain).
Electrical Concurrently, the company will endeavor to ensure that it increases its manufacturing in Europe to evade potential limits in this region and across the pond, where protectionism against Chinese companies is on the rise.
The Volvo EX30 enters on the right foot
In February, Volvo’s new electric compact SUV demonstrated how well-liked it is in market. With 141 sold, it rose to fourth place among electric vehicles in our nation, trailed only by the MG4, the unrivaled Tesla Model Y, and the Model 3.
It came in third place in its home nation of Sweden, behind the Model Y and the XC40. With 1,396 units sold, the EX30 held the seventh place when the major European markets were considered.
In response to a question concerning the global slowdown in demand for electric vehicles, Jim Rowan, CEO of Volvo, said, “We are not seeing any cancellation of orders or any slowdown in the receipt of orders.” As you can see, the Swedish business expects “tremendous growth” in its electrical sales by 2024, so things are looking up.
Note that the Volvo EX30 is available in three versions in Spain, measuring 4.23 meters in length. The first version has a motor and 272 HP, with a WLTP range of up to 334 km and a 49 kWh LFP battery; the second version has a larger NCM battery and 480 km of range; and the third version has two motors, 4×4 traction, and 428 HP, with a 460 km electric range.
Source- Electrek
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