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Volvo prices its entry-level 2025 EX30 EV

Volvo announced Tuesday that it kept its promise to launch its new entry-level 2025 EX30 EV with an MSRP of $34,950 ($36,245 after Volvo's now-$1,295 destination fee). On top of that, we now have full pricing for the EX30 range, from the Core on up to the twin-motor Ultra. Just how reasonably priced is this new premium compact electric crossover? Well, every trim's MSRP starts below the current average transaction price for a new vehicle in the United States — and note we didn't say "electric" there.  The EX30 is offered in two powertrain variants, each with its own trim structure. The Single Motor Extended Range is offered in Core, Plus and Ultra trims. Meanwhile, the Twin Motor Performance is offered in just two: Plus and Ultra. The configuration names give it away, but if frugality is your game, the 275-mile Single Motor Extended Range is for you; if you want to hit 60 in just 3.4 seconds at the expense of range, then the Twin Motor Performance is what you're after. It'll cost you, of course; the jump from a Single Motor Core to a Twin Motor Plus is $9,950 — one heck of an upcharge for all-wheel drive — but remember: The two-wheel drive model is no penalty box. The single-motor EX30 is rear-wheel drive, not front. Here's the full pricing breakdown:  Single Motor Extended Range Core - $36,245 Plus - $40,195 Ultra - $41,895 Twin Motor Performance Plus - $46,195 Ultra - $47,895 Technically, the EX30 is $100 more expensive than we expected, but that's down to Volvo bumping up its destination fee for 2025. Hey, as Korzeniewski notes, they're still charging less to import an EX30 from overseas than Ford charges to ship an F-150 from Michigan, so we can't get too bent out of shape. Presumably the assembled-in-China EX30 does not qualify for the federal tax credit. Look for Volvo's bare-bones but stylish little electric crossover to hit dealerships in the first half of 2024; deposit holders will be able to configure their existing orders in the coming months.  Related video This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

New Lotus SUV could be based on Volvo architecture

Last year, Chinese carmaker Geely upped its stake in Lotus to a majority, recently investing more money into the British brand. Now, talking with Automotive News, CEO Jean-Marc Gales says Geely has approved three new models: two sports cars and the third an SUV. The sports cars will be announced later this year, and they will reach production in 2020. The last time a properly new Lotus debuted was in 2009 with the Evora, so a decade later new products are certainly due. But what about that SUV? Autocar says that since Geely also owns Volvo, that makes it possible for Lotus to base the SUV onto the Volvo SPA platform, which is also used in the XC60 and XC90. The choice of platform would mean the SUV would have to be a four-cylinder model, but that's nothing new to Lotus. It could even use Volvo's "Twin Engine" hybrid setup, which would mean a power output of over 400 horsepower as stock, and that with Lotus' eagerness for lightness could be a potent combination. Autocar quotes Gales as saying, "It will go round bends like nothing else in its segment." The target weight for the approximately Porsche Macan-sized SUV is under 2,000 kilos (4,400 pounds), and the Macan weighs 4244 pounds in 400-hp Turbo guise. The Lotus SUV is projected to hit the market in "about four years," and it's very likely to be built in China instead of Britain, as the Chinese market is very enticing — especially for this class of vehicle. The vehicles will still be designed at Lotus' Hethel HQ. Related Video:

Volvo buyers have best credit scores among all auto shoppers

Experian, the US credit reporting agency, recently concluded a study into the financing and credit scores of US car buyers. One of the prime findings was that Volvo buyers enjoy the strongest credit scores among new car shoppers from all brands (nota bene, these are Experian's own numbers and can differ from other agencies). Unlike the Forbes report on the same story, though, we don't find that surprising at all, nor do we think it necessarily helps Volvo's upscale brand aspirations. The Gothenburg-based carmaker has sold its wares on tank-like safety for decades, so it seems natural that its buyers would be just as safe with and attentive to their credit scores as they are with their choice of vehicle.
Audi was ranked fourth by consumer credit score, Porsche seventh and Mercedes-Benz ninth, yet the fact that Volvo outranks them in this metric is probably a plus to its bottom line but not necessarily its image. It's not unfair to say more people desire those other luxury brands - Volvo itself has admitted as much - and people in the throes of desire have been known to be a little more let-it-ride about things like credit scores. The differences aren't huge, though: compared to Volvo's 818, Audi shoppers scored at 813, Mercedes shoppers 802. Lexus and Acura intenders took the other two steps on the top-credit-scores podium.
Mitsubishi took the honors at the other end of the charts, Experian finding that its potential customers, with an average of 604, had the lowest scores. Mitsubishi was followed by Suzuki and Dodge. On the other side of the financing table, Toyota led the way in how many of its vehicles were bought with bank assistance, followed closely by Ford, Chevrolet taking third place. Also of note, and for whatever it's worth, not one automaker made both the 'top ten by financing' and 'top ten by credit score' lists, but four made both the financing and 'bottom ten by credit score' lists: Chevrolet, Nissan, Kia and Dodge.