Volvo EX30 Drives Record Sales and Profit Growth in Q1 2024

The compact electric SUV, launched just months ago, is already a top performer in Volvo's lineup, boosting overall company margins.

Volvo's EX30 model topped first-quarter sales with 14,500 units sold, contributing significantly to the company's record-breaking sales figures.
The EX30 achieved a gross margin of 16%, a substantial improvement from previous quarters, underscoring its profitability.
Volvo's overall electric vehicle sales share reached 21% in Q1 2024, with the EX30 playing a crucial role in this growth.
The company plans to expand the EX30's market reach to over 90 countries by year-end, anticipating strong ongoing demand.
Volvo's revenue dipped slightly by 2% in Q1, but core operating profits rose by 8%, driven by high retail sales and improved margins.