2024 Volvo EX30 already sold out, despite $1300 price rise

Volvo Car Australia has lifted the price of its all-new 2024 Volvo EX30 battery-electric small SUV just days after going on sale, but it doesn’t seem to be bothering Aussie buyers – the entire first year’s allocation is already sold out.

While the entry-level 2024 Volvo EX30 Single Motor Extended Plus retains its headline price of $59,990 plus on-road costs, the higher-spec EX30 Single Motor Extended Ultra and EX30 Twin Performance Ultra now cost $66,290 and $71,290 plus ORCs respectively – an increase of $1300 each.

Speaking at the official launch of Volvo’s smallest EV to date, Volvo Car Australia managing director Stephen Connor said the price increase was unavoidable, although the company was determined to retain the sharp entry price for the most affordable EX30.

“Our costs are going up because obviously the costs to bring the cars into the country and vessel costs and all those kind of things are going up so we have to follow that, but we made a conscious decision to absorb those costs for the lower grade entry,” he said.

“We felt that we needed to keep that low grade entry where it was. We need to keep that price point where it was so we can call people into the brand.”

Demand for the EX30 has been high since announcing Volvo’s first dedicated-platform EV for Australia, with all of the first 1500 vehicles accounted for even before deliveries started.

Customers who ordered before the price rise will still be charged the originally announced price, but the slightly higher ticket price doesn’t appear to be dissuading others to jump into Volvo’s baby electric car with strong sales persisting into 2025 allocation.

According to Connor, the company has already taken hundreds of orders for next year, with consistent sales predicted to continue.

“We’ve already sold out the first 1500 before the cars even arrived so MY24 is completely sold out. We’ve sold 200 of MY25 and we’re selling 40 a week at the moment, so it’s out there,” he said.

As to which of the three variants is constituting a majority of the interest remains to be seen, but Volvo is “hedging its bets” with 60 per cent of allocation ordered in dual-motor and 40 per cent across the single-motor versions.

However, Connor said the real volume will become apparent once the model has been on sale for a few months.

“I think the perception for consumers is they must always have the Twin because it’s faster and it does zero to 100km/h in 3.6 seconds. That’s a quick car, right? But do you really need those quick cars and I think when people start getting used to the speed they realise they don’t need it to be that quick and the single is still as good,” he said.

The EX30 joins Volvo’s existing fleet of pure-electric models – the C40 Recharge and XC40 Recharge – and the imminent EX90 will take the family of battery-powered models to four options when it arrives later this year.

Watch out for our Australian launch review of the Volvo EX30 from 5:00pm AEST on May 9.

How much does the 2024 Volvo EX30 cost?
Single Motor Extended Plus – $59,990
Single Motor Extended Ultra – $66,290
EX30 Twin Performance Ultra – $71,290
* Prices exclude on-road costs

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