Volvo will not cut prices of its electric vehicles due to high demand

The Swedish manufacturer has no intention of following the path marked by Tesla, reducing the price of its vehicles as other manufacturers have done. The high level of demand for its electric models and the high volume of reservations registered make it unnecessary.

This was confirmed by Jim Rowan himself, the CEO of the Swedish firm, in recent statements to the media.

"We don't see any need to cut the price of our electric vehicles at the moment. Demand is currently higher than ever and the number of reservations is also very high."

This statement from the Volvo boss comes just weeks after Tesla started a price war with its competitors, applying discounts of up to 20 percent on some modelsIn Spain, for example, the price of the long-range Model Y in black went from one day to the next to 14 thousand euros less. That's nothing.

The reaction from other manufacturers was not long in coming and Ford announced shortly after a price cut for the Mustang Mach-E in the North American market. up to $ 5.900. A decision that, however, did not extend to the European market, where the American manufacturer has no intention, for the moment, of following the same commercial strategy.

The electric market is in turmoil at the beginning of this year

Other manufacturers such as Lucid Motors have also announced attractive discounts, and most recently Toyota decided to cut the price of the bZ4X as well, although for the moment only in the Chinese market. Meanwhile, VinFast has announced that it is working on new promotions, a few weeks away from Start first deliveries of the VF8 in the United States.

Volvo saw global sales of its plug-in models triple last year, while the weight of sales of its fully electric models in total sales increased reached 20 percent. A record for the company that allows it to be very optimistic about the future, with several new models ready to reach the market in the short and medium term.

The Swedish manufacturer currently markets two fully electric models, the C40 recharge and the XC40 Recharge. At the end of last year it also presented its next flagship, the EX90, which will hit the market in early 2024. On the other hand, this year it plans to put its new entry-level SUV on the market, the EX30, which we already talked about recently In this post,.