Another consideration is the possibility Volvo will release a new model soon. Could explain why they’ve dropped the AP so heavily (clearing space).
The XC40 has been out for 7 years now, which is about the maximum lifecycle for most cars before an all new model is launched. The mid life facelift was about as minimal as it’s possible to be. However, as far as I’m aware, there are no reports of a new model coming (most new models are seen testing 12-18 months before launch), which makes me wonder if it is not going to be replaced. Are Volvo putting all their focus on EVs?
I don’t think there’s any rhyme or reason to AP fluctuations. The Tucson has recently had a major mid life facelift (the interior changes are frankly as extensive as an all new model) and is selling extremely well (to private as well as Motability customers), yet the AP has just plummeted by £1,550 on top of the £600 reduction a few months earlier. Hyundai seem to be really going for market share and seem to be succeeding in pulling customers from other brands, especially when it comes to EVs.