Volvo Adopts Strategy to Minimize Impact of Price Increase on Electric Cars by Absorbing Part of Import Tax Rate

Written by Paulo Nogueira

Published on 08/12/2023 at 06:35

Divulgação/Volvo – Todos os direitos: CanalTech

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Volvo Electrified Cars In Brazil Will Increase In 2024, But Will Not Apply 100% Of The Government’s Import Tariff.

Until January 2024, electrified cars from Volvo still have a tax exemption for importation, making them more accessible for consumers interested in this technology. However, starting on that date, the situation will change and the prices of these vehicles are expected to rise significantly.

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The Swedish automaker, aware of the impact this measure may have on consumers’ wallets, is seeking alternatives to minimize the price increase. Volvo’s strategy is to adopt its own math to lessen the impact of the tariff set by the government in order not to burden its customers.

Volvo Confirms Price Increase In Brazil

Marcelo Godoy, president of Volvo in Brazil, confirmed that, on average, the cars from the Swedish automaker will be between 5% and 10% more expensive in the country. The percentages will be applied according to the model and the engine.

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Volvo Absorbs Part Of The Tax To Maintain Commercial Objectives In The Country

The president of Volvo emphasized that the brand is absorbing half of the tax (in the case of the EX30) to ‘make it clear to the market what the commercial objectives are in the country’ and, also, to ‘strengthen brand building’ in Brazil.

The other electric models from Volvo, XC40 and C40, will see their prices raised by 10%, as will the brand’s plug-in hybrids, the XC60 and XC90. The increase applied to the duo is also lower than that established by the government for hybrids, which will be 12% starting in January 2024.

Volvo Will Not Follow The Government’s Tariff Table

It is also worth reinforcing that Volvo does not intend to follow the government’s tariff table, which will have new increases in July 2024, July 2025, and July 2026, reaching a peak of 35% for all electrified cars. The Swedish automaker will apply a one-time tariff of 5% or 10% on cars sold in Brazil.

Source: Canal Tech

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Volvo Adopts Strategy to Minimize Impact of Price Increase on Electric Cars by Absorbing Part of Import Tax Rate

Volvo Electrified Cars In Brazil Will Increase In 2024, But Will Not Apply 100% Of The Government’s Import Tariff.

Volvo Confirms Price Increase In Brazil

Volvo Absorbs Part Of The Tax To Maintain Commercial Objectives In The Country

Volvo Will Not Follow The Government’s Tariff Table

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Volvo Adopts Strategy to Minimize Impact of Price Increase on Electric Cars by Absorbing Part of Import Tax Rate

Volvo Electrified Cars In Brazil Will Increase In 2024, But Will Not Apply 100% Of The Government’s Import Tariff.

Volvo Confirms Price Increase In Brazil

Volvo Absorbs Part Of The Tax To Maintain Commercial Objectives In The Country

Volvo Will Not Follow The Government’s Tariff Table

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Toyota launches “family hybrid van” with 7 or 8 seats, 1.8 hybrid engine, fuel consumption of up to 23.8 km/l, and a price equivalent to about R$ 104,000 without taxes, below the Tiggo 8 Pro Plug-in Hybrid sold in Brazil: meet the Noah Hybrid 2026 in Japan.

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