Volvo’s most affordable EV is already having a major impact on the brand. Despite the EX30’s success, Volvo Cars is cutting its sales growth forecast for the year.
“Our journey towards 2026 will not be linear, as our industry is facing an increasingly volatile environment,” Volvo Cars CEO Jim Rowan said on Wednesday.
Volvo topped third-quarter estimates, reporting an operating profit of nearly $550 million (SEK 5.8 billion), up 29% from the $425 million (SEK 4.5 billion) in Q3 2023.
The growth was primarily due to Volvo’s sales outpacing premium rivals. Volvo Cars sold 172,849 vehicles in Q3, up 3% from last year. Electrified models, including fully electric (EV) and plug-in hybrids (PHEVs), accounted for 48% of total sales. All-electric vehicle share reached 25%.
Volvo said it had the highest electrified share among premium automakers in Europe. The company sales in Europe are up 10% through the first nine months of 2024.
Volvo’s smallest and cheapest EV, the EX30, “remained among the best-selling EVs in Europe.” According to the latest figures from market researcher Dataforce (via Automotive News), the EX30 was the driving force behind Volvo’s sales surging 24% in Europe last month.
Volvo cuts growth outlook despite surging EX30 sales
The growth boosted Volvo from 19 in Europe to 15 overall in September. Volvo sold over 5,600 more vehicles last month than in September 2023.
Volvo sold over 9,600 EX30 models in September, making it its third best-selling vehicle behind the XC60 (18,096) and XC40/EX40 (13,930).
Despite its success in Europe, Volvo expects to see lower overall sales growth this year. Volvo anticipates sales to grow between 7% and 8% in 2024, down from the previous 12% to 15% forecast.
Volvo cited slowing sales and lower-priced rivals in the US and China for the lower guidance. The company, which is majority-owned by China’s Geely, is also preparing for new EU and US tariffs on Chinese imports.
The company confirmed plans to begin building EX30 models at its Ghent plant in Belgium in the first half of 2025.
As output ramps up, Volvo will launch the EX30 in the US later next year. Starting at $34,950, Volvo’s compact electric SUV will be among the most affordable EV options on the market.
It will be available in Single and Twin Motor Performance (AWD) powertrains. The former gets up to 275 miles range, while the latter Performance model will be Volvo’s fastest vehicle with a 0 to 60 mph sprint in 3.4 seconds. Volvo calls the EX30 a “cornerstone” of its EV strategy.
Volvo still expects to outpace premium rivals with the three-row EX90 electric SUV (see our review) also rolling out in the US and the luxury EM90 minivan in China.
The company also recently backtracked on its 100% EV sales pledge by 2030. Volvo now expects 90% to 100% of global sales to be EV or PHEV by 2030. By 2025, Volvo aims for a 50% to 60% electrified sales share.
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Daimler Truck North America has helped alcohol distributor Reyes Beverage Group deploy fully 29 zero-emission Freightliner eCascadia Class 8 electric semi trucks in its California delivery fleet.
Reyes Beverage Group (RGB) plans to deploy the first twenty Freightliner electric semi trucks at its Golden Brands – East Bay and Harbor Distributing – Huntington Beach warehouses, marking the first phase in the company’s transition to a fully zero emission truck fleet by 2039. An additional nine eCascadia Class 8 HDEVs are scheduled for delivery to RBG’s Gate City Beverage – San Bernardino warehouse before the end of 2024.
RBG’s decision to adopt the Freightliner eCascadia builds on its recent transition to renewable diesel and its ongoing idle-time reduction program. These electric vehicles (EVs) “go electric” will contribute significantly toward the company’s stated goal of reducing its carbon emissions 60 percent by 2030. These 2 trucks will save some 98,000 gallons of diesel fuel annually, and avoid putting nearly 700 metric tons of carbon dioxide and other harmful emissions into California’s air each year.
“We are excited to be among the first in our industry to adopt these electric vehicles,” explains Tom Reyes, President of RBG West. “This is a significant step toward our sustainability goals and ensuring compliance with state regulation as we transition our fleet to EV.”
Freightliner’s eCascadia electric semi trucks offer a number of battery and drive axle configurations with ranges between 155 and 230 miles, depending on the truck specification, to perfectly match customers’ needs without compromising on performance and load capacity. RBG’s Freightliner eCascadia tractors will rely on electric charging stations installed at each facility, allowing them to recharge to 80% capacity in as little as 90 minutes for RGB’s trucks, which feature a typical driving range of 220 miles as equipped.
The Windsor, Ontario utility says it’s driving towards a more sustainable future after adding a dozen new electric vehicles to its fleet – including a state-of-the-art, 55-foot Terex electric bucket truck.
Based on a Class 7 (33,000 lb. GVWR) International eMV Series BEV, the Terex EV takes the eMV’s 291 kWh battery and adds the Terex Optima 55-foot aerial device and HyPower SmartPTO system to create a fully electrified utility service vehicle that can do anything its diesel counterparts can do while offering better, safer working conditions for utility crews.
“We’ve got 12 EVs,” said Gary Rossi, president and CEO, Enwin Utilities. That number represents fully 10% of the utility’s entire vehicle fleet. “Our centerpiece is our electric 55-feet bucket truck. It’s very quiet,” continues Rossi. “So (the truck) allows us, our crews, to communicate better. It’s not as loud in the community when they’re doing repairs in someone’s backyard.”
That notion is echoed by Terex, itself. The company says its HyPower SmartPTO (power take off), which replaces a mechanical PTO, avoids a loud idling engine while reducing workers’ exposure to toxic exhaust fumes.
“It’s all about building Windsor’s future and literally plugging into the battery factory down the road that is being constructed and showing that Windsor is a leader on this front,” says Drew Dilkens, Mayor of Windsor. “I don’t own an internal combustion engine vehicle,” adds Mayor Wilkins. “I only own two electric cars. My wife and I, we made the change starting in 2019 and I can’t see myself ever going back.”
CTV News Windsor
Enwin says its commitment to clean energy extends beyond its vehicle fleet. The company recently unveiled a massive MW solar rooftop net metering facility at its Rhodes Drive headquarters with over 3,000 solar panels. The site, one of Canada’s largest solar installations, generates enough clean electricity to power 300 homes annually.
Built by Damen Shipyards and the first fully electric tugboat to be deployed in the Middle East, the new RSD-E Tug 2513 Bu Tinah put in its record-breaking performance took place at Khalifa Port during ADIPEC, the world’s largest energy conference.
The RSD-E Tug 2513 is based on the already efficient hull design of the standard, diesel-powered RSD Tug 2513, but its new, fully electric propulsion arrangement enables it to offer zero emissions operations in situations where oil or fuel leakage would be – let’s say especially bad.
But, while the “clean” aspect of all-electric operation is obvious, its Guinness World Record of performance shows that the Damen RSD-E Tug 2513 is up to whatever task its owners put to it.
“This Guinness World Record achievement demonstrates that the transition to alternative energy does not come at the cost of performance,” explains Maritime & Shipping Cluster, AD Ports Group, Captain Ammar Mubarak Al Shaiba. “We are very proud that the first electric tug in the Middle East is also making waves on a global level with this accolade and the fact that in parallel it is improving the sustainability of our operations alongside cost efficiencies in terms of overall fuel saving is extremely important. This vessel is now a key component of our Marine Services fleet and our electrification strategy.”
To earn its record, the the Damen RSD-E Tug 2513 Bu Tinah recorded an average high peak bollard pull of 78.2 tonnes (about 86 ‘Murican tons). The record-setting tugboat can undertake a minimum of two towage operation on a single charge, and can be recharged on a marine DC fast charger in just two hours.