Volvo EX30 will be brand's best-seller as it steals customers, attracts younger buyers

Volvo Australia predicts its new EX30 will become its most popular model, saying the baby electric SUV is already snaffling buyers from other brands while also attracting younger customers.

The EX30 has gone on sale this week with a starting price of $59,990 for the most affordable version of the 4.2-metre-long SUV.

The petrol XC40 remains the most attainable Volvo, priced from $54,990, though the EX30 is $17,000 cheaper than the company’s next electric model, the XC40 Recharge.

It’s a pivotal part of Volvo’s ambition to became an all-electric car brand by 2026 in Australia, and 2030 globally.

3

“The [EX30] will represent probably about 30 per cent of our [total] sales,” said Volvo Australia MD Stephen Connor. “We’re about 40 per cent for our mix of EV [electric vehicles] at the moment, and by the end of this year we will be up to about 70 per cent EV [showroom share] – which of course gives credit to our long-term vision [to be all electric].

“This [EX30] going to be an absolute [top] seller. It’s going to bring a new demographic to Volvo – we’re going to pull people from other brands but we’re also going to pull in younger demographic to the brand, which opens up our market completely.”

“That’s the whole principle of having a fun car like this – that it pulls people into the brand and all of a sudden our brand is much more accessible across the range.

“EX30 will also help our other models. We’re not going to be a one-car company. The EX30 is not a car for everybody – great car, great size – but that’s where we think we will naturally migrate people to XC40 electric. Or buyers have a family, so they will look at XC60, look at XC90, and EX90 when it arrives.

“[EX30] really sets us apart from our competitors.”

3

Connor said its allocation of 1500 pre-orders for MY24 EX30s was sold out, with MY25 models now available to order. These bring a $1300 increase for both the mid-range Extended Ultra (now $66,290) and flagship Performance Ultra (now $71,290).

About 40 EX30s are rolling out of Volvo Australia showrooms every week at the current rate, but Connor said he expects this to lift by up to 60 a week now the vehicle has officially launched.

Healthy supply of up to 3900 units is available in 2024 for the model that was the best-selling Volvo in Europe in April.

Volvo Australia has chosen to ignore a smaller-battery EX30 that would have had the potential for a price tag closer to $50,000.

Instead, all three EX30 grades use the same 64kWh battery – powering either a single motor (Extended Plus and Extended Ultra) or dual motors (Performance Ultra).

Volvo Australia believes 60 percent of buyers will opt for the most expensive EX30, the Twin Motor Performance Ultra, with the two single-motor models accounting for the other 40 percent.