Volvo Cars reports continuing sales slump
Volvo Cars has reported a continuing slide in vehicle sales, with a 16% slump in global figures for the three-month period August to October 2026.
The automaker cited increased competition in China and the loss of consumer incentives for purchasers of electric and plug-in hybrid vehicles in the U.S. for the decline, its Nov. 4 release stated.
Sales of PHEV and mild-hybrid/internal combustion engine vehicles recorded the biggest drops in the August through October period, crashing by 30% and 28% respectively year-over-year.
The sales slump comes after the company posted a $373 million loss in for the third-quarter, while announcing a further cut of 2,500 jobs.
Volvo’s total global sales for the period amounted to 141,656 cars compared year-over-year to 168,967 vehicles for the same period in 2025.
EV sales were up of 27% YoY in the period, accounting for 34% of all vehicles sold, while PHEVs now make up 20% of Volvo Cars’ global sales. Combining both types, sales of electrified models accounted for 55% of sales over the period yet were down 3% YoY.
“In China, we are adapting to lower demand and focusing on stabilizing the business rather than chasing volumes,” Volvo Cars’ chief commercial officer, Erik Severinson, said in a statement. “In the U.S., we are focusing on our updated mild- and plug-in hybrid portfolio,” he added.