Azernews.Az

by Alimat Aliyeva

Volvo Cars reported on Friday that its global sales fell 10.7% year-on-year in the third quarter of 2026, reaching 141,609 vehicles. The decline was mainly driven by weaker market conditions in China and a slower-than-expected recovery in the US automotive market.

Sales in Greater China dropped by 40.6% to 20,284 vehicles, while deliveries in the Americas declined 14% to 30,777 units. Europe and other international markets, however, showed more positive results, with sales increasing 2% to 90,548 vehicles.

Despite the overall decline, Volvo continued to see strong growth in electric vehicles. Fully electric vehicle sales rose 28.6% globally, accounting for 32% of the company’s total sales during the quarter. When plug-in hybrids are included, electrified models made up 53% of quarterly sales.

Volvo Cars Chief Commercial Officer Erik Severinson said that the downturn in the Chinese market had not yet shown signs of easing, while the recovery of the US premium-car segment remained weaker than previously expected. He added that these conditions had affected the company’s third-quarter performance and prompted industry analysts to revise their forecasts for the premium automotive market in 2026.

The contrasting regional results highlight the challenges facing global automakers as demand continues to vary significantly between major markets. At the same time, Volvo’s growing electric-vehicle sales suggest that the company’s transition toward electrification is continuing despite the broader slowdown.

The latest figures also reflect a wider shift in the automotive industry, where manufacturers are balancing weaker demand in some traditional markets with rapidly changing consumer preferences and growing competition in the electric-vehicle segment.