Volvo is discontinuing sales of a number of models in the US due to tariffs that have been imposed that make it difficult to sell foreign cars in the US market. The company told Reuters that it has reduced its model line-up in the US, in particular due to a decline in interest in sedans and station wagons.<\/p>\n
On 1 April, new import duties came into effect – 27.5% on European cars and more than 100% on cars from China, which hit Volvo particularly hard, as most of its models are produced in Europe and China.<\/p>\n
The new tariffs are forcing foreign automakers to rethink their strategies. Some of them are limiting deliveries to the US or completely discontinuing production of models that can no longer be profitable.<\/p>\n
From now on, Volvo will offer only about half of its 13 global models in the US market. In addition to the V60 wagon, the company will focus exclusively on selling SUVs. This means a complete abandonment of sedans: production of the S60 at the South Carolina plant was discontinued last year, sales of the Chinese S90 have been halted, and Volvo has recognised the new ES90 as financially unprofitable for the US market.<\/p>\n
Global demand for station wagons is also falling, and Volvo has decided to discontinue the V90. In addition, sales of the European electric EX40 model have been temporarily suspended, although the company promises to resume them in the near future.<\/p>\n
Even Volvo’s flagship electric SUV, the EX30, which was supposed to be popular in the US, has only been launched in a more expensive twin-engine version for $46195. The promised more affordable single-motor version for $35,000 is not yet available.<\/p>\n","protected":false},"featured_media":149965,"menu_order":0,"template":"","newscat":[9],"newstag":[31529,31527,31528],"issues":[],"class_list":["post-149964","news","type-news","status-publish","has-post-thumbnail","hentry","newscat-novosti","newstag-companynewsbusinessnewscorporateupdatesleadershipchangesmergersandacquisitionsmarketmovements","newstag-novynykompanijbiznesnovynyrynkytransformacziyabiznesu","newstag-novostykompanyjbyznesnovostykorporatyvnenovostysmenarukovodstvaslyyanyyaypogloshhenyyarnkyykompanyy"],"_links":{"self":[{"href":"https:\/\/ldaily.ua\/en\/wp-json\/wp\/v2\/news\/149964","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ldaily.ua\/en\/wp-json\/wp\/v2\/news"}],"about":[{"href":"https:\/\/ldaily.ua\/en\/wp-json\/wp\/v2\/types\/news"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ldaily.ua\/en\/wp-json\/wp\/v2\/media\/149965"}],"wp:attachment":[{"href":"https:\/\/ldaily.ua\/en\/wp-json\/wp\/v2\/media?parent=149964"}],"wp:term":[{"taxonomy":"newscat","embeddable":true,"href":"https:\/\/ldaily.ua\/en\/wp-json\/wp\/v2\/newscat?post=149964"},{"taxonomy":"newstag","embeddable":true,"href":"https:\/\/ldaily.ua\/en\/wp-json\/wp\/v2\/newstag?post=149964"},{"taxonomy":"issues","embeddable":true,"href":"https:\/\/ldaily.ua\/en\/wp-json\/wp\/v2\/issues?post=149964"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}