Volvo 2020-2023 Product Plan
- The Volvo brand (a subsidiary of the Chinese Geely group) has unveiled its product plan for 2020-2023. The current range will be renewed, except for the V40, which will not be replaced. This model is not integrated into the new product plan because, although it has until now accounted for a large proportion of the brand's sales, these sales have been declining for several years now (78,000 units in 2018 compared with 92,000 in 2017 and 101,000 in 2016).
- Maybe Volvo wants to focus only on the high-end, that is, on a category of cars that are more expensive and more profitable. This is proven by the planned launch in 2023 of a new SUV which is even more expensive than the XC90, the XC120, and by the launch of the Polestar models, which are more expensive and exclusive versions of the Volvo.
- Volvo brand sales are increasing all over the world, in Europe, China and the United States (where Volvo has just started production in its new factory in Ridgeville), mainly with its 60 and 90 series models, in both sedan and SUV versions.
- The 2020-2023 Volvo product plan foresees a restyling of the S90/V90 and XC60 in 2020, a restyling of the XC40 in 2021 and a restyling of the S60/V60 in 2022. The XC90 will be renewed in 2022 and the S90/V90 in 2023. According to Inovev, the XC60 will be renewed in 2024 and the XC40 in 2025, but this scenario is outside the 2020-2023 product plan unveiled by the manufacturer. Finally, the XC120, which will be at the top of the range, will be launched in 2023.
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