2026 Volvo XC60 vs. 2027 Volvo EX60: Should Toronto Buyers Wait for the Electric Version?

It's a question our team at Volvo Cars Toronto is hearing with increasing frequency: the 2026 XC60 is available now, fully refreshed with new technology and refined materials. The 2027 EX60 arrives this fall, fully electric, with a new platform and the most advanced technology Volvo has ever offered. If you're currently in the market — or approaching the end of a lease — should you buy now or wait six months?

There's no single right answer. The right choice depends on your charging situation, your driving patterns, and how you weight the tradeoffs. Here's what you need to know to make an informed decision.

The Case for Buying the 2026 XC60 Now

The 2026 XC60 is a fully refreshed vehicle with meaningful improvements over its predecessor. The new 11.2-inch Snapdragon-powered infotainment display is 21% crisper than the outgoing screen and over twice as fast in processing speed. Google Built-in provides Google Maps, Google Assistant, and Google Play natively. Interior materials include new options like Quilted Nordico upholstery and Navy Herringbone Weave, elevating the cabin to a genuinely premium standard.

The T8 Plug-in Hybrid powertrain delivers 455 combined horsepower, 0–100 km/h in 4.8 seconds, and up to 58 kilometres of all-electric range — enough for the majority of Toronto daily commutes on electricity alone. For buyers not yet ready to go fully electric, the T8 eliminates most range anxiety while providing a familiar refuelling option for longer trips.

Specific reasons to choose the XC60 now:

• Immediate availability — drive it this week, not in five to six months
• PHEV flexibility — no charging infrastructure dependency; a full tank provides 700+ km of total range
• Proven platform — the current XC60 architecture has accumulated a strong reliability and satisfaction record across thousands of Canadian owners
• Known pricing — no price uncertainty; current lease and finance rates apply immediately

The XC60 B5 AWD mild-hybrid is also the more straightforward choice for buyers who live in a condo without dedicated charging access, or who aren't ready to build EV charging infrastructure at home.

The Case for Waiting for the 2027 EX60

The 2027 EX60 represents a generational step forward, not an incremental update. Built on the SPA3 electric-native platform, it carries HuginCore with Google Gemini AI, 800V charging architecture, and up to 640 kilometres of range in P12 configuration. These are not features that will be available on the XC60 through any update — they require the new platform.

For buyers in the right situation — particularly those with home charging access — the EX60 eliminates fuel costs, maintenance complexity, and tailpipe emissions simultaneously. With Ontario's electricity pricing structures and typical Toronto driving patterns, the total cost of ownership difference between an EV and a PHEV compounds meaningfully over a 4-year ownership cycle.

Specific reasons to wait for the EX60:

• 800V charging architecture — 10 minutes of fast charging adds over 300 km of range; the EX60 charges meaningfully faster than current-generation EVs
• Google Gemini AI — contextual, proactive, conversational; a fundamentally different in-car technology experience than the XC60's Google Built-in
• Bidirectional charging (V2H/V2G) — the EX60 can discharge up to 22 kW AC back to a home or grid connection; the XC60 T8 cannot
• 28-speaker Bowers & Wilkins audio — engineered for the EX60's electric cabin acoustics
• No combustion components — lower long-term maintenance costs (no oil changes, spark plugs, or exhaust system service)

Head-to-Head: The Key Differences

The Condo Buyer Question

The most important variable in this decision is charging access. For Toronto buyers living in a freehold home or townhome with a driveway, a Level 2 home charger installation is a straightforward process — and home charging is what makes full EV ownership uncomplicated for daily use.

For buyers in a condo building, the equation is more complex. While Toronto's building code requires new condo developments to include EV-ready parking, retrofitting older buildings for Level 2 charging remains inconsistent and often requires board approval and capital expenditure coordination. If your condo building doesn't yet offer reliable Level 2 charging at your designated parking spot, the XC60 T8's flexibility — the ability to run on gasoline when charging isn't available — makes it the more practical choice today.

If home charging access is confirmed, the EX60 is worth the wait.

The Honest Recommendation

If your lease or ownership situation requires a vehicle within the next two to three months, the 2026 XC60 T8 is an excellent vehicle that you will not regret purchasing. It is genuinely updated, capable, and efficient.

If you can wait until Fall 2026, have home charging access, and drive the typical Toronto daily commute pattern, the 2027 EX60 P10 AWD is the more future-oriented choice — and the right vehicle for the next five to seven years of your ownership cycle.

Contact Volvo Cars Toronto to discuss your timeline and current situation. Our team can help you model the total cost of ownership for both vehicles and help you decide whether to proceed now or reserve your place for the EX60.