Volvo EX30 sparks growth in September as EV sales share nears 25%

Volvo’s cheapest electric SUV is proving to be the growth driver the brand hoped for. In September, the EX30 was the third best-selling Volvo model as EVs approached a quarter of global sales.

Volvo EX30 drives EV sales growth in September

Volvo sold 62,458 vehicles globally in September, an increase of 1% from last year. Despite a “volatile and uncertain market,” Volvo’s deputy CEO Björn Annwall said the company remains encouraged by its solid performance in Europe.

In Europe, Volvo’s sales reached 31,276 last month, up 32% compared to September 2023. Annwall said the sales growth was “spearheaded by the EX30.”

The low-cost electric SUV continues building momentum after the EX30 surged to become Europe’s second best-selling EV in August.

Starting at around $40,000 (30,000 euros) in Europe, the EX30 is Volvo’s cheapest and smallest electric SUV.

Volvo sold 9,610 EX30 models in September, its third best-selling vehicle behind the XC60 (18,096) and XC40/EX40 (13,930). The compact electric SUV pushed Volvo’s EV share of total sales to 24% for the month.

Despite the success in Europe, Volvo’s sales fell 22% (8,518) in the US last month and 16% in China (12,915).

Volvo’s electric vehicle sales fell 41% in the US last month and are down 65% through the first nine months of 2024.

In China, EV sales slipped 8% in September but are still up 17% year-to-date. Volvo launched the EX30 in China in May, starting at roughly $28,000 (200,800 yuan). It also launched its first luxury electric minivan, the EM90, in China, starting at about $114,000 (818,000 yuan).

Electrek’s Take

Volvo expects sales to turn around with new EVs launching in the US and China. The EX30 is scheduled to arrive in the US later next year. Starting at $34,950, the electric SUV will be among the most affordable EV options in the US.

Volvo is also launching its first three-row electric SUV, the EX90, in the US (check out our review of it here).

The luxury 7-seater SUV starts at $79,995 and has a range of up to 310 miles. With two new electric SUVs in high-demand segments, Volvo is poised to turn things around in the US.

In China, Volvo is also targeting high-growth markets with the lower-cost EX30 and premium EM90 minivan rolling out.

After the 100,000th EX30 model rolled off the production line this week, Volvo will carry the momentum into 2025 with plans to begin producing the low-cost EV in Belgium. The European-made model will be exported to the US to avoid tariffs new tariffs on Chinese EV imports.