The price reduction is up to $7,750 in some cases.

According to an early order guide seen by CarsDirect, Volvo will significantly reduce the prices of its 2021 model year plug-in hybrid models in the U.S. market.

At least in some cases, the cuts are substantial and may translate into a high increase in PHEVs sales, especially since the difference compared to ICE versions will be lower.

Currently, Volvo offers in the U.S. five plug-in hybrids, which are eligible for $5,419 of the federal tax credit:

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The 2021 models will be reportedly offered at MSRP of:

  • S60: $47,650 (down $7,750)
  • S90: $60,650 (down $3,150)
  • V60: data N/A
  • XC60: $53,500 (down $450)
  • XC90: $63,450 (down $3,550)

Deducting the obligatory $995 destination charge and the federal tax credit, the base price to be:

  • S60: $43,226
  • S90: $56,226
  • V60: data N/A
  • XC60: $49,076
  • XC90: $59,026

Here are starting prices of all models, regardless of the powertrain, which will allow you to see the premium of PHEVs:

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This year Volvo intends to achieve a 20% share for plug-in electric cars out of its overall result and it has to be done using plug-in hybrids, as the first all-electric model (XC40 BEV) will be introduced only in late 2020.

We are eager to see the official 2021 price list from Volvo and also the prices of the first all-electric model, which will be one of the competitors of the Tesla Model Y.