Volvo Car Portugal announced that it ended 2023 with a historic result for the Swedish brand, selling 5118 units, representing a 42% growth compared to the previous year and the second-best result ever at the national level. The best result was achieved in 2019 when it reached a total sales of 5320 vehicles.
Although it didn’t quite reach the best year of sales ever, the brand achieved a market share of 2.56% last year, also reflecting the best year ever for the brand in terms of profitability. Three models contributed significantly to these results: the XC40 with 56% of total sales, followed by the XC60 with 19%, and the electric C40 with 10% of sales.
The popularity of Volvo’s range of electrified models is worth highlighting, as it experienced strong growth last year, already representing 82% of national sales with the C40 and XC40, accounting for 26% of the total mix.
These numbers allow Volvo Cars Portugal to be a reference compared to other markets, presenting much higher rates than the global average. This is in a year when the Swedish brand globally achieved some historic milestones, reaching a new record of global sales with 708,716 units sold (+15% compared to 2022), a record profitability, and the highest penetration rate of 100% electric models in its 97-year history, already representing 16% of the total.
With the goal of achieving carbon neutrality by 2040, Volvo does not intend to slow down in its commitment to electrification in order to become a 100% electric brand by 2030. Therefore, the expectation for 2024, in Europe and Portugal, is for further growth so that the Gothenburg brand can continue firmly on its path towards electrification. This will be the first year in which it will commercialize four 100% electric models worldwide.
Allied with a robust supply chain and stabilized production, accompanied by large investments in technology to ensure long-term objectives, Volvo believes that 2024 will bring a new record year in sales, revenue, and profitability,” said Domingos Silva, Commercial Director of Volvo in Portugal, during the presentation to journalists of the brand’s results in 2023.
Portugal will not be an exception, as the Swedish brand aims to grow by double digits by the end of the year. For this, Volvo Portugal is strongly betting on the EX30, a 100% electric model that promises to contribute to the brand’s growth in Portugal, considering that the brand has announced that the small 100% electric SUV already has the highest volume of pre-orders ever for the brand in Portugal.
“Our electric model sales were the best ever, and our newcomer EX30 is performing above our highest expectations,” emphasized Susanne Hägglund, Managing Director of Volvo Car Portugal.
EX30 promises to help the brand’s growth
The model, which was launched in January and is aimed at a rapidly growing segment where the Swedish brand was not yet represented, the EX30 comes with a Single Motor entry-level version, available from €37,900. It features an LFP (lithium iron phosphate) battery with a capacity of 51 kWh, designed to power a rear electric motor capable of delivering 272 hp and a maximum torque of 343 Nm, with an announced 0-100 km/h time of 5.7 seconds, an electronically limited top speed of 180 km/h, and a range of 344 km.
The intermediate variant, Single Motor Extended Range, offered from €43,246, uses the same motor but combined with an NMC (nickel-manganese-cobalt) battery with a capacity of 69 kWh, providing a range of up to 480 km and a 0-100 km/h time of 5.3 seconds.
Regarding the top version Twin Motor Performance, whose price starts at €49,580, it combines the 69 kWh NMC battery with two electric motors, offering all-wheel drive, and a combined output of 428 hp and 543 Nm, with 0-100 km/h achieved in just 3.6 seconds, a record that makes it the fastest model in Volvo’s history, while maintaining a top speed of 180 km/h, with a range of 466 km.
In addition to the EX30, the EX90 is also one of the weapons for the national market, with Volvo making it clear that production of the new SUV will start soon and its arrival in the national market will take place in June. “Our ambition for this model is for it to be the segment leader, following the success of the XC90,” added Domingos Silva.
In this way, Volvo promises to continue to stand out in the next generation of mobility, not only for its historical commitment to safety, but also in terms of sustainability, technology, comfort, and convenience, all carefully designed to meet the demanding needs of today’s and future customers.
“We believe that in 2024 we will continue to grow as we move towards total electrification, which is one of the crucial points in our environmental plan,” concluded Susanne Hägglund.
