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"Volvo’s low-cost EX30 EV is already living up to its promise to deliver profitable growthPeter Johnson | Apr 24 2024 - 7:25 am PT30 CommentsDespite its compact size, Volvo’s low-cost EX30 is already making a big impact. After launching just months ago, the new Volvo EX30 is already living up to its promise of delivering profitable growth.Volvo’s low-cost EX30 is already making an impact“We have had a strong start to the year, with our first quarter results laying a solid foundation for the year ahead,” Volvo CEO Jim Rowan said Wednesday.Volvo set a new global sales record in the first quarter of 2024, fueled by growing demand for its fully electric vehicles.After being one of the first legacy automakers to commit to an all-electric future, the results speak for themselves.In the first quarter, Volvo had a 100% electrified (including PHEVs) sales share in 18 markets, up from 15 in Q4. Fully electric vehicles accounted for over 40% of sales share in 19 markets, up from 13 in Q4.Volvo’s new fully electric small SUV, the EX30, contributed to the sales growth, according to Björn Annwall, Volvo Cars’ chief commercial officer & deputy CEO.Volvo CEO Jim Rowan during the EX30 launch (Source: Volvo Cars)The EX30 helped push Volvo’s EV share of sales to a record 21% in Q1 2024. Volvo sold 14,500 EX30 models in the first three months of the year, topping the EC40 (6,000) while closing in on the EX40 (17,400).Delivering profitable growthVolvo set a new all-time sales record in March as it ramps up EX30 deliveries. Perhaps, more importantly, its new electric SUV is helping improve margins.Volvo’s EV margins improved to 16%, up from 7% a year ago and" https://electrek.co/2024/04/24/volvos-low-cost-ex30-ev-already-living-up-to-promise/#:~:text=Volvo%E2%80%99s%20low%2Dcost,year%20ago%20and