Anything is possible. I know from my insiders that the refreshed XC90 was not part of the long-term plan and happened because of the combination of tanking EV sales in the US (EU, now, too) plus software issues on the EX90 forcing cancellations. Not all customers (myself included) want to pay full price for a half-baked product. Refreshing the XC90 was a safe bet, even though the EX90 was supposed to replace it.

Now that Volvo is walking back their "all EV" plan - and has made absolutely zero mention of the EX60 - I think it's probable. Even more so with the commonality of parts between the SPA cars.

 

There is zero chance the payment is going down, and there haven't been significant changes to upgrade into, so I can't see a reason to pull the trigger sooner than later. Keep what you have until there is a reason to change it. I would guess if there is a change, it would push past March of 2025 anyhow, far enough past that it would be hard to do an extension for it... But no reason to do it early IMO.

 

Even by March 2025, the SPA1.5 or SPA+ XC60 might not be out (if it comes out at all). One can hope, though - especially if they include the rumored SPA powertrain upgraes.

 

I feel like the MY25 XC60 is more like a 2024.5. Based on the notes from the Sept 17 dealer meeting, it seems like the focus is on the EX60 with an extended range PHEV XC60 based on the current platform. I doubt either will be available March 2025. Given that 2025 XC60s just hit dealer lots within the last month and the lack of incentives, I would recommend waiting until the offers and interest rates grow more attractive.

 

There is an update coming for the XC60 but not as a 2025.5. Most likely will be released in conjunction with EX60. Most likely a similar treatment.

I too have heard that they're working on higher density batteries that will benefit the PHEV versions of this and eventually the XC90 - but no timeline on this.