Volvo Announces Subscription Car Plan for its New XC40 Crossover
【Summary】Volvo CEO Håkan Samuelsson announced a new subscription car plan for the upcoming Volvo XC40 crossover at Automobility LA today.
LOS ANGELES — Volvo CEO Håkan Samuelsson announced a new subscription car plan for the upcoming Volvo XC40 crossover at Automobility LA today. "This car is not just a new car, it's also new way of having your Volvo. We listened to our consumers, who said that the buying process is a bit complicated." Samuelsson said.
He said the company's new subscription plans offers full transparency. The service is called ‘Care by Volvo' and is a no hassle way to drive a new Volvo. The service is similar to a cell phone plan.
The subscription plan allows drivers to pay a flat fee starting at $600 per month to drive Volvo's new XC40 crossover vehicle. Unlike a lease or financing plan that requires a owner to pay a down payment and insurance, the subscription car service includes everything except gas. A Volvo subscriber would not need separate insurance, or even a down payment. The plan also includes tire protection, 24 hour concierge service and roadside assistance for the duration of the subscription.
Samuelsson said that the plan's insurance coverage does not cost more for people living in urban areas, it is the same for all subscribers no matter where they reside, commute to, or their age.
A customer can simply order the vehicle online and Volvo will even deliver it to their home. Potential subscribers can choose custom options such as paint color and wheel style. The plan also include full service and maintenance an no additional costs. The plan is offered for a period of 24 months.
The new SUV will be build in the United States where Volvo is investing 1.2 billion dollars on a assembly plant, employing nearly 4000 workers. The XC40 will be built on an entirely new architecture.
The vehicle will be available for subscription in March. Volvo will still offer lease and financing options for those customer who want to purchase or lease the XC40.
Originally from New Jersey, Eric is an automotive and technology reporter specializing in the high-tech industry in Silicon Valley. Eric has over fifteen years of automotive experience and a B.A. in computer science. These skills, combined with technical writing and news reporting, allows him to fully understand and identify new and innovative technologies in the automotive industry and beyond. He has worked on self-driving cars and as a technical writer, helping people to understand and work with technology. Outside of work, Eric likes to travel to new places, play guitar, and explore the outdoors.
Uber Looking to Sell a Minority Stake in its Autonomous Vehicle Unit
Daimler Acquires Stake in Sila Technologies to Develop Next-Gen EV Batteries
EV Startup XPENG Motors Debuts its New P7 Electric Coupe at Auto Shanghai
Tesla Announces the $35,000 Standard Model 3 Can No Longer Be Purchased Online
EV Startup SF Motors Rebrands as 'Seres', Opening Preorders for its SF5 Crossover Next Week
U.S. Lawmakers Introduce Bill to Extend Federal EV Tax Credit
BMW Signs Deal with DXC Technology to Speed Up Autonomous Driving Development
Baidu Tops the List for the Most Autonomous Miles Driven in China
- Lyft Stock Slips Below its IPO Price After Receiving its First Sell Rating
- Tesla Reverses Decision to Shut Down All of its Retail Stores, Will Keep Some Open & Raise Prices
- Tesla Inches Closer to $35,000 Model 3, Reduces Price for Sedan
- Electric Automaker NIO Launches $650 Million Convertible Bond After Lackluster IPO
- The Hyundai Kona Electric Named Best EV of 2019 by Edmunds
- BMW & Daimler Invest $1 Billion in a New Mobility Venture, Will Challenge Uber
- Tesla Stock Falls After Vehicle Deliveries Drop 31% in Q1
- Study Reveals Consumer Views on Driverless Car Makers, Tech and Trust
- Tesla Delivers the First Model 3's to China Ahead of Schedule
- Honda Aims to Offer Only Electrified Models in Europe by 2025