Making good on its promise that the future will be electric, Volvo has readied the XC40 Recharge P8 compact crossover for a spring debut. Though it doesn’t seem to have secured an idyllic price tag. The electrified XC40 starts at $54,985, including a $995 destination fee, which makes it around $20,000 dearer than the gasoline model. That’s a lot of dough for such a small vehicle, even after federal (and potentially state) tax incentives shave a few thousand off the top. Surely customers will be getting a top-shelf automobile on par with the Tesla Model 3 Performance, if not better, to help that MSRP make some sense. But the math just isn’t working out in Volvo’s favor based on the specs given. Model 3 destroys it in every metric that isn’t headroom because it is not a crossover.
While the XC40 Recharge comes in below its larger European counterparts on price, and often by a fairly narrow margin, its maximum range is an EPA-estimated 208 miles. That places it within striking distance of the bigger electrics manufactured by Audi or Jaguar. But Tesla will happily sell customers a Model Y boasting 326 miles of range for about $10,000 less than the XC40. The only downside is that the American brand’s sales success has already exhausted its allotted federal tax credits, meaning you’ll get more money from the government if you buy something Swedish-Chinese.
If the automotive market were a foot, electric vehicles would be the curled-up toe on the outside edge. It doesn’t take up a lot of space, you’re not entirely sure what it’s there for, and some people think it’s weird. Still, it clearly has a purpose to serve and it’s hard to imagine the foot without it. There’s potential in that digit.
Strong Chevrolet Bolt deliveries in California pushed up the state’s EV sales by 91 percent in the first quarter of this year. It may still account for only 2.7 percent of the Golden State’s new vehicles, but it’s still more than many of us expected to see this soon. Sales of the more-affordable, longer-ranged EV seem to suggest the market might begin to gobble up plug-ins as more affordable models with superior range continue to arrive.