Volvo expects a momentum shift within the US, with two new electrical SUVs hitting the market. Volvo will launch its three-row EX90, adopted by the smaller, extra reasonably priced EX30. Can Volvo’s new electrical SUVs assist revamp EV gross sales within the US? The model expects massive outcomes. Right here’s why.
Volvo expects new electrical SUVs to drive US EV gross sales
Though Volvo delayed the launch of each fashions, they’re lastly about to hit the US market.
Volvo’s flagship EX90 is scheduled to reach at US dealerships later this yr, whereas the EX30 will comply with within the second half of 2025.
Volvo’s electrical SUVs are hitting the market at a important time. Based on Cox Automotive, Volvo’s US electrical automobile gross sales slipped 72% within the first half of 2024. Volvo has solely bought 2,109 C40 and XC40 Recharge fashions, in comparison with over 7,600 final yr.
Consequently, Volvo’s share of the US EV market fell from 0.4% final yr to 0.3% by June 2024. Volvo Automobiles US President Michael Cottone believes issues will flip round rapidly with its next-gen EVs rolling out.
The EX90, Volvo’s three-row electrical SUV, “is the primary automobile that we are going to have launched and developed outdoors of Europe in our firm’s nearly 100-year historical past,” Cottone stated at a media occasion this week (by way of Automotive Information).
Volvo’s flagship EV “was designed for the U.S. market after which constructed within the U.S. market,” based on Cottone.
Constructed within the US, for the US
With the seven-seat crossover phase being a development engine for the Swedish automaker within the US, the EX90 is predicted to play a key function in revamping EV gross sales.
The XC90, Volvo’s gas-powered three-row SUV, was its top-selling automobile in 2023, representing nearly a 3rd of gross sales. “We’re providing one other automobile to a different subset of customers that we don’t have at the moment,” Volvo’s US boss stated.
With an electrical possibility, Volvo expects the EX90 to attract extra consumers into showrooms. One Volvo seller, Mathew Haiken, stated the EX90 had the XC90-like DNA, which “has grow to be a basic just like the Vary Rover or Porsche 911.”
“The EX90 is the antithesis of the Tesla Mannequin X,” Haiken defined by way of design. He added, “Most EVs appear to be computer systems on wheels.”
Volvo’s first EX90 rolled off the manufacturing line in South Carolina in June forward of deliveries later this yr.
Though Volvo introduced the EX90 would begin at $77,990, it was compelled to boost costs after the US elevated tariffs on the electrical SUV’s CATL-made battery. The EX90 now begins at $81,290, together with vacation spot.
The EX30, Volvo’s smallest and most cost-effective EV, will arrive within the US within the second half of 2025. It is going to begin at $34,950 as one of the crucial reasonably priced EVs within the US.
Electrek’s Take
There’s mild on the finish of the tunnel for Volvo. The EX90 is hitting the candy spot of the US market. Whereas Ford canceled its three-row electrical SUV, international rivals proceed seeing demand for the bigger fashions.
For instance, Kia bought practically 11,500 EV9 fashions, its first three-row electrical SUV, within the US by July. Kia can also be producing EV9 fashions within the US because it seems to be to determine itself as a frontrunner within the large North American auto market.
In the meantime, Volvo’s EX30 is already a prime vendor in Europe. Based on new knowledge from Jato Dynamics, the EX30 was the second-best-selling EV in Europe final month. With 6,573 registrations, Volvo’s EX30 trailed solely Tesla’s Mannequin Y (9,544).
With the brand new mannequin, Volvo was the market share winner in Europe in July, gaining 5.5%. BMW was second and topped Tesla for the primary time in complete EV gross sales in Europe.
Will the EX30 have the identical affect within the US? With two new electrical SUVs rolling out, Volvo expects EV gross sales to show round rapidly.
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