Volvo is phasing out its budget-friendly EX40 electric crossover in North America, marking a strategic shift as the automaker refocuses on revamping its popular XC40 hybrid lineup to address declining sales. The move signals a consolidation of its electric and hybrid offerings amid evolving market demands. Industry analysts suggest the decision reflects Volvo’s effort to streamline production and prioritize higher-margin models. The brand’s pivot comes as consumer preferences and competition in the electric vehicle sector continue to reshape the automotive landscape.
Volvo Cars confirmed plans to discontinue its entry-level EX40 electric crossover in the U.S. and Canada as the Swedish brand prepares a bold refresh of its XC40 hybrid to stem hemorrhaging sales.
