Volvo Cars reported selling 162,864 vehicles in the three months to April 2026, a 10% decline versus the same period last year.
Fully electric car sales rose 14% to 39,235 units, representing 24% of sales, while plug‑in hybrid sales fell 12% in the quarter.
Weak demand in China and softer US consumer sentiment, plus slower electrified car demand and SUV pricing pressure, drove the sales decline.
Europe remained resilient with strong order pace, led by fully electric models, and the company’s shares rose 0.9% on the Stockholm exchange.