For immediate release
Volvo Canada announces new cash rebates for all buyers
TORONTO (November 1, 2007) -- Volvo Cars of Canada Corp. announced today that effective immediately a new program will offer customers a rebate of up to $5,000 toward the purchase price of a Volvo vehicle regardless if it is a cash, finance or lease transaction. The program affects the S40, S60, S80, V50, XC90, C30 and C70 models.
“Volvo Canada and its retailers view all customers equally,” said Steve Blyth, President and CEO of Volvo Cars of Canada Corp. “The company will not offer an incentive program to cash paying customers that is different than one offered to our finance or lease customers. This new rebate program will be available on the majority of Volvo vehicles to all customers regardless of how they would like to conduct the transaction.”
The incentive program is focused primarily on the 2008 model year and remaining 2007 model year vehicles and offers different cash rebates according to the nameplate. For example, a 2008 model year XC90 would qualify for a $4,000 rebate for all buyers, existing stock of 2007 S80 and C70 vehicles will feature a $5,000 incentive and a $2,500 incentive will be applied to the 2008 S40 and V50.
* (a complete list can be found below)
“This new cash rebate program, when combined with some of the industry’s best lease and finance rates, gives potential Volvo customers a compelling reason to visit a Volvo retailer in Canada,” said Blyth. “We have lease rates starting from 2.9 percent and finance rates starting from 3.9 percent.”
Blyth adds: “We realize Canadians are looking to the US market and comparing prices of vehicles with the same nameplate. We hope they also notice that Canadian Volvo vehicles have a longer list of standard equipment, a more comprehensive warranty offer and a retailer network equipped with parts to service built-for-Canada vehicles. That said, we recognize that the price is perhaps the most important factor in a purchase decision. Our plan is that this new rebate program will help customers avoid considering the added cost, hassle, time and intricacies of importing a vehicle from south of the border.”
The new cash rebates can also be combined with Volvo Canada’s established loyalty bonus program offered to people who own a qualified Volvo vehicle. A current Volvo owner that purchases a new Volvo vehicle with cash or through the company’s lease or finance program would qualify for a loyalty bonus of between $500 and $2,500, depending on the model.
“By combining the cash rebate and loyalty bonus, a current Volvo owner could save $7,500 off the price of a 2007 S80 sedan,” said Blyth. “The price, combined with the car’s luxury, performance and styling attributes presents an incredible value.”
Volvo Cars of Canada Corp. is part of the Volvo Car Corporation of Göteborg, Sweden. The company provides marketing, sales, parts, service, technology and training support to the 43 Volvo automobile retailers across the country. The company’s product range includes the stylish and sporty C30, the elegant C70 hardtop convertible, the compact S40 sedan, the S60 sport sedan, the S80 flagship sedan, the versatile V50 wagon and the award-winning XC90 sport utility vehicle. For the 2008 model year, the company is introducing two all-new models: the redesigned V70 wagon and the capable and comfortable XC70.
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Contact:
Chad Heard
Senior Consultant
Marshall Fenn Communications
Office: 416-962-3366 x267
Mobile: 416-451-3204
E-mail: chadh@marshall-fenn.com
Erin Farquharson
Account Coordinator
Marshall Fenn Communications
Office: 416-962-3366 x254
E-mail: erinf@marshall-fenn.com
Sidebar:
The following is a list of rebates that will be applied to qualified vehicles. The list also outlines the loyalty bonus offer for people who own a qualified Volvo vehicle that purchase a new Volvo vehicle.
2008 C30
Rebate - $1,500
Loyalty Bonus - $500
Total: $2,000
2008 S40
Rebate - $2,500
Loyalty Bonus - $750
Total: $3,250
2008 V50
Rebate - $2,500
Loyalty Bonus - $750
Total: $3,250
2008 S60
Rebate - $3,000
Loyalty Bonus - $1,000
Total: $4,000
2008 S80
Rebate - $2,000
Loyalty Bonus - $2,500
Total: $4,500
2008 XC90
Rebate - $4,000
Loyalty Bonus - $2,000
Total: $6,000
The following rebates will be applied to the remaining stock of 2007 model year vehicles. The same loyalty bonus applies to qualified Volvo vehicle owners.
2007 S80
Rebate - $5,000
Loyalty Bonus - $2,500
Total: $7,500
2007 C70
Rebate - $5,000
Loyalty Bonus - $1,000
Total: $6,000
2007 C30
Rebate - $2,000
Loyalty Bonus - $1,000
Total: $3,000
