Volvo’s most affordable EV will arrive with up to $9,000 in discounts, but here’s the deal

Volvo’s most affordable EV, the EX30, already has up to $9,000 in discounts with US deliveries just around the corner. However, with some limitations, the Volvo EX30 could face stiff competition with better deals on Tesla, Kia, and Toyota electric models.

Volvo’s most affordable EV hits the US with big discounts

The EX30 is already among the top-selling electric cars in Europe after delivering the first models in January. Now, it’s set to arrive in the US.

After seeing strong demand for the EX30 in the US, Volvo fast-tracked its most popular model: The Twin Motor Performance. The Twin Motor EX30, starting at $46,195 (including destination fee), is available in Plus or Ultra upgrades. Meanwhile, the long-awaited $36,245 Single Motor trim is scheduled to arrive in early 2025.

According to online auto research company CarsDirect, Volvo’s most affordable EV is getting up to $9,000 in discounts.

The 2025 Volvo EX30 is available with a $7,500 EV lease allowance through the federal tax credit. Through January 2, Volvo owners can score an extra $500 if they trade in their lease.

Volvo is offering an additional $1,000 for current FWD XC40, XC60, or XC90 lessees to upgrade to an AWD model, including the EX30. With up to $9,000 off, the 2025 Volvo EX30 Twin Motor Plus can potentially be leased for as low as $37,195.

At that, the EX30 is cheaper than Tesla’s Model Y, which has an MSRP of $46,380. After the $7,500, Model Y prices could fall to $38,880.

If you’re looking to buy, it’s a different story. According to CarsDirect, the EX30 is excluded from Volvo’s APR offers, which could put it behind the Model Y and others like the Toyota bZ4X, Kia EV6, Subaru Solterra, and Hyundai IONIQ 5 with 0% financing offers this month.

Even the Volvo C40 Recharge may be a better buy. With a $7,500 Purchase Bonus, the 2024 Volvo C40 Recharge is only $1,200 more than the EX30 despite its $54,895 MSRP.

The AWD model gets an estimated EPA range of up to 253 miles. With up to 422 hp, the EX30 Twin Motor Performance is also the fastest Volvo. It can hit 0 to 60 mph in just 3.4 seconds.

Inside, the EX30 includes a 12.3″ tablet-style infotainment at the center of an otherwise minimalistic setup. As you would expect from a Volvo, the EX30 is loaded with its latest tech and safety features.

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