Back in February this year, Volvo revealed the updated S90 and V90 models, which gained mild-hybrid technology in some markets. The Swedish company has an even more ambitious plan for the next model year as it wants to make its electrified offerings more affordable than ever.
According to a report by CarsDirect based on a leaked early order guide, some of Volvo’s plug-in hybrids from the Recharge T8 family will be up to $7,750 cheaper compared to the 2020 model year. More precisely, the S60 T8 sedan will be priced at $48,645 (including destination) thanks to a new entry-level version, which is $7,750 cheaper than the 2020 S60 T8.
If you want to upgrade to the larger S90 T8 sedan, it’ll set you back at least $61,045, which is a healthy $3,150 less than the 2020 model. Go for the plug-in hybrid X60 and you’ll save $450, while the range-topping XC90 gets a proper $3,550 price change.
According to CarsDirect’s analysis, the new prices will bring the PHEVs closer to the starting prices of the traditional combustion-powered models. For example, the S60 R-Design Expression - the cheapest S60 PHEV for the 2021 model year - will be available at $43,226 after the federal tax credit, which makes it $19 more affordable than the T6 Momentum AWD model.
Our source also notes that the prices mentioned above are prior to the federal tax credits, which - for all eligible models - equate to $5,419. Depending on the state and vehicle, there are additional discounts that can be added bringing the PHEVs’ prices closer to the ICE-powered counterparts.
As a side note, Volvo will begin branding all its plug-in hybrid models with the name Recharge from now on. The decision comes as a further boost to the brand’s electrified portfolio and as a move to help customers differentiate the PHEVs from the standard models easier.
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