Regardless of the trim, the XC90 will benefit from up to $10,200 in cash rebates. This comprises $7,200 in the company's new Currency Cash Rebate program and a $3,000 loyalty bonus for existing Volvo vehicle owners. The new cash rebate will also benefit customers who prefer to make monthly payments.

For example, a new customer who chooses a 48 month lease for a 5-seat XC90 3.2 will now pay as little as $554 per month with a $2,800 down payment, representing a saving of $54 per month compared to the same offer in March. An existing Volvo owner with the same down payment who leases an XC90 would pay $486 for 48 months due to the loyalty bonus.

S60 customers will also benefit from up to $7,000 in cash rebates; $5,000 for the Currency Cash Rebate and a $2,000 loyalty bonus for existing Volvo vehicle owners. With new interest rates, a new customer with a $2,100 down payment who leases a S60 2.5T Auto for 48 months will see a monthly payment of $499, representing a saving of $146 per month when compared to March. A current Volvo owner with the same down payment who leases an S60 would pay $455 for 48 months due to the loyalty bonus.

Historically, the S60 and XC90 models have accounted for approximately 40 per cent of the company's overall vehicle sales.

"This new Currency Cash Rebate for the S60 and XC90 represents the largest incentive program the company has ever offered Canadian customers," says Peter Johnson, Vice President, Sales and Marketing for Volvo Canada.

"It's simply the most money we've ever put on the table for these vehicles. For existing Volvo owners, the deal gets even better as it can be combined with our newly-hiked loyalty bonus program for even greater savings. The great news is that all of this money can be applied to the price of a vehicle regardless of whether the customer chooses to purchase with cash, lease or finance."