Volvo sells 10.7% fewer cars in Q3 2026, but EVs grow 29% globally and 51% in Europe, led by the EX60
Volvo Cars delivered 141,609 cars in the third quarter, with steep falls in China (-40.6%) and the Americas (-14%). Fully electric cars rose to 32% of sales, though, and grew 51% in the Europe and rest-of-world region. What the EX60 means, why Volvo pulled its outlook, and what the EX60 costs in Romania.
Volvo Cars published its third-quarter sales on October 2, and the numbers tell two opposite stories. Overall, the Swedish carmaker sold 141,609 cars between July and September, 10.7% fewer than a year earlier. Sales of fully electric cars, however, rose by almost 29%, and in the Europe and rest-of-world region they jumped 51%. The driving force is the new EX60 electric SUV, along with new plug-in hybrids that have a long electric range.
Also on October 2, Volvo said it will not meet its 2026 outlook for sales volume and cash flow. It has decided not to issue any short-term outlook for now.
The quarter in numbers
| Q3 2026 (July–September) | Sales | vs Q3 2025 |
|---|---|---|
| Global total | 141,609 | -10.7% |
| of which fully electric (BEV) | 45,060 | +28.6% |
| of which plug-in hybrid | 30,589 | -18.0% |
| of which mild hybrid / combustion only | 65,960 | -23.6% |
| Europe and rest of world | 90,548 | +2% |
| of which fully electric | 40,466 | +51% |
| Americas | 30,777 | -14% |
| of which fully electric | 3,626 | -47% |
| Greater China | 20,284 | -40.6% |
| of which fully electric | 968 | -29.9% |
Source: Volvo Cars release, October 2, 2026. Volvo notes it corrected a reporting error in China: 1,621 cars from July and August were included in Q3 2026, and the Q3 2025 figure was revised by 1,899 cars.
Fully electric cars reached 32% of Volvo's global sales, and electrified models (BEVs plus plug-in hybrids) 53%. One detail the release doesn't spell out, but the table shows (our calculation): almost 90% of the EVs Volvo sold in the quarter (40,466 of 45,060) went to the Europe and rest-of-world region.
A clarification on how the story is being reported: the 51% growth isn't strictly "in Europe". Volvo reports a single "Europe and RoW" region, which includes other markets outside the Americas and China. Europe is the bulk of it, though, and Volvo explicitly says performance in Europe "remained resilient".
Why the total fell: China and the US
China is the biggest problem. Volvo delivered 20,284 cars there, down 40.6%. The company blames competition and pricing pressure from local manufacturers, plus a weak economy. In Volvo's words, China's premium market fell by "a sharp double-digit" amount. Sales of combustion-only and mild-hybrid cars there halved (-52%).
The Americas fell 14% to 30,777 cars, and fully electric sales halved (-47%). Volvo cites weak consumer sentiment, tougher competition in SUVs and a high comparison base: a year earlier, electrified sales rose ahead of the expiry of US consumer subsidies. The release doesn't mention tariffs.
"The market downturn in China showed no signs of easing, and the recovery in the US premium segment remained below our earlier expectations," said Erik Severinson, Volvo Cars' chief commercial officer.
EX60, the car keeping Europe in growth
The EX60 is the mid-size electric SUV widely seen as a direct rival to the BMW iX3. It's built at Torslanda, near Gothenburg, and the first customer deliveries began in mid-July in Sweden. According to Electrek and Volvo's figures:
- WLTP range of up to 611 km (P6, rear-wheel drive), 660 km (P10 AWD) and 810 km (P12 AWD);
- 800-volt architecture: up to 340 km of range added in 10 minutes on a 400 kW charger.
"In Europe, we continue to see strong demand for our new cars, led by the EX60 and our recently launched long-range plug-in hybrids," Severinson said. The company says it's now focused on ramping up EX60 production.
That's also the risk. At its strategy update on September 17, CEO Håkan Samuelsson said it would be "very tricky" to build 40,000 EX60s this year because the ramp-up had been tougher than expected (per Reuters). In other words, the demand is there, but the factory can't keep up yet.
The EX60 will also be the centrepiece of Volvo's stand at the Paris Motor Show (October 12–18).
Outlook withdrawn
In a separate release on October 2, Volvo said an increasingly difficult market has led to lower-than-expected sales. As a result, it won't meet its previous 2026 outlook on volume and cash flow. It also warned of a "significant negative impact" on third-quarter core earnings and cash flow. More details and further measures will come with the financial results on October 23. Volvo says its long-term ambitions, including an 8% EBIT margin, are unchanged.
And in Romania?
Volvo doesn't break out Romanian sales in this quarterly report. The EX60 can already be configured on Volvo Romania's website. According to the official configurator, as reported by Promotor, prices start at €63,150 for the rear-wheel-drive P6 with 611 km of WLTP range. AWD prices and delivery times for Romania should be checked in the configurator or with a dealer. We couldn't independently confirm delivery times for Romanian customers.
What it means for drivers
- EVs aren't Volvo's problem; they're its answer, at least in Europe. The decline comes from China and the US, while EV sales in Europe are growing strongly.
- If you want an EX60, expect to wait. Demand has outrun Volvo's plans, and the CEO admits this year's production target will be hard to hit. Ask the dealer for a realistic delivery date before you sign.
- The October 23 financial results will show whether Volvo cuts costs or changes prices. That could affect offers in Romania in the months ahead.
