Volvo Car Korea announced on the 27th that its compact electric SUV "EX30" surpassed 1,000 new contracts within one week of a price reduction announcement. The price adjustment aimed at lowering the burden of EV purchases appears to have quickly gained traction in the market.
Volvo Car Korea repriced the EX30's base "Core" trim from 47.52 million won to 39.91 million won, a reduction of 7.61 million won. The "Ultra" and "EX30CC Ultra" trims were also lowered by 7 million won each, now selling at 44.79 million won and 48.12 million won respectively. With this adjustment, the Core trim's base price has dropped to the 30-million-won range, reaching a level similar to the starting price (39.95 million won) of the Kia EV3 Standard "Air" trim, the best-selling model in Korea's compact electric SUV market.
The effective price drops further when subsidies are applied. Based on Seoul city standards, the Core trim is expected to have an actual purchase price of around 36.7 million won after receiving 3.21 million won in EV subsidies. The Ultra trim is expected to be available for approximately 45.24 million won after applying 2.88 million won in subsidies.
The composition of buyers also showed a distinct trend following the price cut. According to Volvo's analysis of contract data, customers in their 30s and 40s accounted for approximately 60% of total contracts, driving the sales momentum. Female customers represented a relatively high proportion among those in their 30s. By trim level, the entry-level Core model accounted for only about 5% of selections. The company explained, "We plan to secure inventory of that trim in line with port arrival schedules to expand options."
Customers who previously took delivery of an EX30 will receive an additional benefit of a "1-year/20,000km extended free warranty." Accordingly, the existing 5-year/100,000km warranty will be extended to 6 years/120,000km. Customers who already received a 6-year/120,000km warranty through early delivery promotions will have their coverage extended to 7 years/140,000km.
Lee Yoon-mo, CEO of Volvo Car Korea, said, "This achievement is the result of our global strategy to lead the EV market based on the EX30's product competitiveness aligning with customer demand. We will continue our efforts to enable more customers to experience the Swedish luxury values that Volvo pursues."