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Volvo EX40 Sales Surge 275% Following Price Cuts and Upgrades
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The Volvo EX40, formerly known as the XC40, is experiencing a dramatic resurgence in popularity, with sales up 275% thanks to significant price reductions and technical enhancements.
Volvo’s electric vehicle strategy is gaining traction, and the EX40 is at the forefront of this success. Originally launched in Norway in 2018 with gasoline or diesel engines, the electric edition, introduced just before Christmas 2020, has become a bestseller despite increasing competition. The key to this success? A strategic price reduction.
In recent months, both the EX40 and it’s sister model, the EC40, have been offered at promotional prices, with cuts exceeding NOK 128,000. The EX40 Twin Motor Plus is now available for NOK 489,000, while the top-of-the-line Twin Motor Ultra starts at NOK 519,900. The EC40 mirrors these price cuts, offering a slightly more sporty design while remaining mechanically identical to the EX40.
But the price isn’t the only factor driving sales. Volvo has quietly implemented several technical upgrades. While the exterior design remains largely unchanged,the EX40 boasts a significantly increased range,jumping from 417 kilometers in the original XC40 Recharge to 517 kilometers. Charging speeds have also improved, increasing from 150 kW to 205 kW.
The 442 horsepower engine delivers a robust driving experience, characterized by safety and competence. “you never get any surprises, the car does exactly what you want it to,” according to a company release. The EX40’s driving characteristics are safe and predictable, aligning with Volvo’s reputation for safety.
A Strategic Price Adjustment
The success of the EX40 highlights the importance of pricing in the competitive EV market. Previously priced at over NOK 700,000 with accessories,the current promotional price of NOK 519,900 is far more attractive,even when compared to newer and larger competitors. Volvo has successfully positioned itself as a premium brand, justifying a slightly higher price point.
“Volvo, by the way, calls it promotional price. But it will surprise if they set up prices again,” a senior official stated, suggesting the price cuts might potentially be more than temporary. The EX40 is now priced similarly to its original launch price five years ago, a move that has clearly resonated with buyers.
Looking Ahead
The EX40’s success story is a testament to Volvo’s ability to adapt to changing market conditions. With the introduction of the EX60 planned for next year, Volvo is poised to continue its growth in the electric vehicle segment. The EX40, however, remains a strong contender, largely thanks to its recent price adjustments and ongoing improvements.
did you know that when the XC40 Recharge was first launched in 2020, its starting price was NOK 520,000 – almost exactly the same as today? The concept car 40.1, which previewed the XC40, was first unveiled in 2016.
For those interested in owner feedback, broom maintains a section called “The owners believe,” where thousands of Norwegian car owners share their experiences and ratings. You can also explore Broom’s used car tests for additional insights.
VOLVO EX40 TWIN PERFORMANCE ULTRA
Engine and performance:
Engine: Two electric
Effekt: 442 HK / 670 NM
0-100 km/t: 4,6 sek.
Top speed: 180 km/t
Consumption: 18.3 kwt/100 km
Battery/charging:
Battery package: 82 kwt
Range: 517 km (WLTP)
Fast Charging: 205 kW
Opposite: 11 kW
Objective, weight and volume:
L x B x H: 444 x 186 x 165 cm
Luggage compartment: 419 liters
Weight: 2187 kg
Payload
