Volvo Cars reports growth and profitability in electric vehicle segment

Volvo Cars reports significant progress in its electrification strategy, highlighted by the performance of its new electric models. In Sweden, the company announced that the EX60 electric vehicle is generating higher profit margins per unit than the high-selling XC60. Sales manager Erik Severinson noted that the EX60 addresses key consumer barriers regarding range, charging speed, and price, offering a range of up to 810 kilometers and a 10-to-80 percent charge in 16 minutes.

In Peru, the Volvo EX30 has emerged as the best-selling electric vehicle in the country for the year through August, with 103 units registered. This model accounts for 14.8 percent of the Peruvian electric vehicle market. Overall, Volvo holds a 20.5 percent share of the total electric vehicle market in Peru and controls 81.7 percent of the premium electric vehicle segment.