The XC40 P8 Recharge will be priced from £53,155, or roughly AU$106,590, meaning it will not qualify for the UK government's £3000 Plug-in Car Grant after a new policy was implemented this year exempting cars with a list price over £50,000 from receiving the incentive.
Volvo XC40 Recharge in Australia this year
Due in Australia before the end of 2020, the all-electric XC40 Recharge will be joined by a plug-in hybrid variant (already available in the UK) when it lands Down Under, but Australian pricing for both models is yet to be revealed.
In Australia, the regular XC40 is currently priced from $46,990, ranging to $56,990 (before on-road costs) for the XC40 T5 R-Design.
A local Volvo spokesperson told CarAdvice today that UK pricing should not be considered an indicator of where the electric Recharge will land in Australia – and indeed many factors will affect the difference for local specification and pricing – but it is clear we should expect a significant price impost in the step from petrol to electric XC40.
Earlier this month, Mazda revealed the UK pricing for its first battery-electric car, the MX-30, which will start from £30,495 driveaway (AU$59,224), or £26,995 (AU$52,427) inclusive of the government grant.
Unlike in the UK, there are currently no nation-wide electric vehicle incentive programs in place for Australian consumers, although recent developments suggest state governments will begin doing more to lower their cost.
This week, the NSW state government identified the high price of EVs as a significant barrier to their uptake and introduced measures to lower the entry point for secondhand buyers, promising incentives for fleet owners who purchase electric cars.
Additionally, the ACT already provides an exemption on stamp duty for electric cars.