According to Automotive News, the upcoming Volvo flagship EV is now $3300 more than it was just months ago. This comes on the heels of a report by Volvo itself revealing that the EX90 will lack promised features at its debut.
The price increase bumps the MRSP from $77,990 to $81,290 on Volvo’s highly anticipated large 7-seater SUV EV. Volvo promised a “well equipped under $80,000” SUV EV in 2023, so this is obviously painful for them, and EX90 buyers.
Like its little brother the EX30, the EX90 has not been delivered to any North American customers. EX30 buyers have been waiting since May 2023 with orders opened the following month, while XC90 buyers have been waiting since November 2022, and orders were opened exactly a year later.
Volvo spokesperson Sophia Durr attributed the price increase to higher material costs. She said the adjustment was announced to retailers and preorder customers June 26 and the website was updated the same day.
Durr also said no “firm orders or non-refundable deposits” were placed before the price change was announced. Durr said EX90 demand is “robust” and Volvo does not expect the price increase to change that.
Automotive News
Delivery delays, feature removal news, and now price increases have plagued Volvo’s first true EV efforts, and news of falling EV demand has only served to frame Volvo’s EV efforts as what can only be described as “somewhat beleaguered.” The wave of bad news has caused Volvo to re-evaluate it’s All-EV by 2030 plans.
Volvo told dealers about 5 percent of the vehicle’s more than 10,000 U.S. preorders have been canceled because of the delay.
But a Volvo retailer said about 40 percent of his EX90 reservations have evaporated.
“People that put the initial deposits are early adopters,” said the dealer, who requested not to be identified. “They want the latest and greatest tech.”
Automotive News
Yikes.
The Volvo C40 Recharge remains the first and only Volvo EV, and it was announced in March 2021. (My sister has one and loves it, but gives a thumb down for her dealer’s service, FWIW.) Three years and counting between the first and second EV models is not conducive to a 2030 all-EV roadmap.
Volvo is in a bit of trouble with their EV effort. Some of the trouble comes from the dipping EV adoption market in the US, but Volvo is also fumbling the debut of two very important models.
EX90 Price Hiked
