Volvo Car Australia has significantly lowered the prices of its EX30 and EX40 electric SUVs by up to $11,300, in a strategic move to prepare for the upcoming launch of the highly anticipated EX60 mid-size electric SUV. The price cuts, which come without any changes to vehicle specifications, are effective immediately.
Strategic Shift Ahead of EX60 Arrival
According to a company spokesperson, the repositioning of the 30 and 40 series EVs is designed to optimize Volvo’s lineup as it introduces the EX60. The EX60, slated for release in late 2026 or early 2027, is expected to compete directly with established mid-size electric SUVs like the Tesla Model Y and the current XC60. Volvo anticipates that the EX60 will redefine standards in range, charging speed, performance, and price within this segment.
New Pricing Details
The EX30 now starts at $49,990 before on-road costs, representing a reduction of up to $11,300 from its original price. The EX40, previously known as the XC40 Recharge, has also seen price cuts of $7,000 across all variants, with the entry-level model now priced at $69,990 before on-road costs.
EX30 and EX40 Specifications
The EX30 remains available in two trims: the Plus and Ultra. The Plus trim comes with a single-motor rear-wheel drive powertrain delivering 200kW of power and a 69kWh battery, offering up to 462km of range on the WLTP cycle. The Cross Country variant features a dual-motor all-wheel drive system with 315kW of power and a reduced range of 417km.
The EX40 is offered in a single specification with two powertrain options: a 185kW single-motor rear-wheel drive and a 300kW dual-motor all-wheel drive, both powered by an 82kWh battery. WLTP range figures are 520km and 485km, respectively.
Why This Matters
Volvo’s move is a clear indication of the intensifying competition in the electric SUV market. Lowering prices on existing models can create space for the EX60 to enter without cannibalizing sales or appearing too aggressively priced. This strategy also reflects broader industry trends, where manufacturers are increasingly adjusting pricing to remain competitive as EV technology matures and production costs decrease.
The EX60 is positioned as a crucial model for Volvo, potentially reshaping its market share in the fast-growing mid-size EV segment. The price reductions on the EX30 and EX40 are not just about short-term sales; they’re about setting the stage for Volvo’s long-term electric vehicle strategy.
