The company's sales of electrified models - fully electric and plug-in hybrid models - accounted for 48 per cent of all cars sold during the three-month period. Fully electric cars comprised 23 per cent of all cars sold for the period, and plug-in hybrid models accounted for 25 per cent.

The automotive industry, including the premium segment, continues to face intensifying headwinds across regions which reflected in the sales performance for the three-month period ending May 2026.

Sales in China remain under pressure, as overall industry volumes continue to decline in double-digits for consecutive months. This is due to the highly competitive industry landscape and challenging macro environment.

In the US, there are early signs of a recovery for both the industry and Volvo Cars, which is reflected in the gradual improvement in deliveries. However, the overall market still remains impacted by low customer sentiment and subdued demand for fully electric and plug-in hybrid cars post subsidy removal.

"Despite all the external challenges, we continue to grow in Europe through electrification," said Erik Severinson, Chief Commercial Officer at Volvo Cars. "Overall, deliveries of our fully electric cars grew for the eighth consecutive month driven by the strong demand for the EX30 and EX40 electric SUVs in Europe.  We have also seen sustained and strong increase in retail orders for our fully electric models in the region, which further reinforces our strategy to become a leader in premium electrification."

"Additionally, we are excited to receive overwhelmingly positive reviews of our new EX60 fully electric SUV from our customers and the media. Initial customer orders for the car have already surpassed our internal expectations. We are now gearing up to gradually ramp up the production of the car in the second half of the year."