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 huge 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 12 months, whereas the EX30 will observe within the second half of 2025.
Volvo’s electrical SUVs are hitting the market at a crucial time. In keeping with Cox Automotive, Volvo’s US electrical car 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 12 months.
Consequently, Volvo’s share of the US EV market fell from 0.4% final 12 months to 0.3% by means of June 2024. Volvo Vehicles US President Michael Cottone believes issues will flip round shortly with its next-gen EVs rolling out.
The EX90, Volvo’s three-row electrical SUV, “is the primary automotive that we’ll have launched and developed exterior of Europe in our firm’s virtually 100-year historical past,” Cottone mentioned 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,” in accordance with 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 anticipated to play a key function in revamping EV gross sales.
The XC90, Volvo’s gas-powered three-row SUV, was its top-selling car in 2023, representing virtually a 3rd of gross sales. “We’re providing one other automotive to a different subset of customers that we don’t have immediately,” Volvo’s US boss mentioned.
With an electrical choice, Volvo expects the EX90 to attract extra patrons into showrooms. One Volvo vendor, Mathew Haiken, mentioned the EX90 had the XC90-like DNA, which “has grow to be a traditional 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 12 months.
Though Volvo introduced the EX90 would begin at $77,990, it was compelled to lift 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 can begin at $34,950 as one of the crucial reasonably priced EVs within the US.
Electrek’s Take
There’s gentle 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 almost 11,500 EV9 fashions, its first three-row electrical SUV, within the US by means of July. Kia can also be producing EV9 fashions within the US because it appears to determine itself as a frontrunner within the huge North American auto market.
In the meantime, Volvo’s EX30 is already a high vendor in Europe. In keeping with new information 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 whole EV gross sales in Europe.
Will the EX30 have the identical influence within the US? With two new electrical SUVs rolling out, Volvo expects EV gross sales to show round shortly.
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