An eye-popping $23,500 discount on the 2017 Volvo XC90 is the highest cash rebate on any vehicle in Canada this month, but only available on its top-of-the-top Excellence trim. 

We usually don’t get too excited about cash rebates around here, but the fact that the base XC90 starts at $58,500 made this reported rebate immediately intriguing, especially as it was first reported as a $25,500 discount in the December 2017 issue of trade book Canadian Auto World.

After checking with Volvo Canada, the correct cash rebate amount is $23,500, but is only available on the six-figure-plus Excellence version, which as of last year started at $118,900.

Buyers in Ontario could receive a further $3,000 discount, as the Excellence model comes with the top T8 plug-in hybrid powertrain, which could bring up the potential total discount to above that reported $25,500 figure, as the province offers a $3,000 electric car rebate to the after-tax price of the seven-seat XC90 Excellence. Other green car rebate provinces BC and Quebec don’t offer green car rebates to vehicles over a certain price threshold, above $77,000 and $75,000 respectively.

The rebate will be offered until the end of the month, Volvo Canada confirmed. No word on what discounts available on other XC90 trim levels, but it is interesting to note that the XC90 has been the best-selling Volvo in Canada so far this year - a rarity for the priciest vehicle of any brand.