As geopolitics, war in the Middle East, tariffs, and consumer uncertainty cast a long shadow across the auto industry, it seems no manufacturer is spared, even the Scandinavians with more modest aspirations. While Volvo delivered 153,516 light vehicles to customers globally in the first three months of 2026 (down 11% from Q1 2025), the outlook was much worse in the Americas (Q1 sales of 29,651, down 28%) and in greater China (down 17% to 28,330 units).There was no other region that performed as poorly as the Americas, though. Sales dropped 36% for plug-in hybrids (5,932 units), 21% for electric vehicles (4,964 units), and 26% for mild hybrids and straight internal combustion. In no uncertain terms, Volvo has some big problems to solve.Across the board, Volvo Car USA reported nothing but minus signs for every single model. The XC90 SUV was the top seller, with 8,513 units (down 9%), followed closely by the XC60's 8,061 units (down 37%) and the XC40's 3,403 vehicles (down 47%). The battery-electric EX90 was down 30% to 702 units while thecompact EX30, after just two years in the market and originally intended to be among the most affordable electric SUVs in the US, will be yanked from the portfolio at the end of this year, partially driven by the loss of federal tax credits. The 2026 EX30 carries a base price of about $40,000, reflecting a $5,000 increase from two years ago. US Lineup Tilts Toward BEVs Volvo The US lineup is going through massive changes right now, after the S60 and S90 sedans have departed (although still apparently available in some showrooms, in minuscule numbers), while the V90 Cross Country will only be around while supplies last. The V60 Cross Country departs later this year.This puts more pressure on the EVs to pick up lost sales volume, and that is not likely to happen in this market. Still, the all-electric EX60 is coming to the US this year, slotting above the EX30. That means a higher price point, so Volvo will need to deliver a lot of feature content for the money, especially for shoppers who thought the EX30 was too small.VolvoLooking more closely at Volvo's US sales based on powertrain choice, the mild hybrids dominated with 16,889 deliveries, but were still down 29% from Q1 2025. Plug-in hybrids plummeted even further, 49%, to 3,436 vehicles. If there are glimmers of hope for Volvo US, it's that BEV sales fell only 14% from Q1 2025 to 2,326 units and that certified pre-owned Volvo sales grew 14%, to 13,287 units.The other glimmer of hope comes from Europe and the "rest of world" outside China and the Americas. This region performed far better than the two trouble spots, with 95,335 deliveries, down a mere 2%, including 41,256 ICE and mild hybrid vehicles (down 1%). Posting sales declines is never good, but in context with the rest, these losses look like a win.Even though the EV market appears unplugged in the US, EV sales for Volvo in Europe and abroad were up a robust 21% to nearly 31,000 vehicles. Globally, Volvo grew Q1 sales 12% to 36,348 EVs. That's something to build on, or at least offset US losses. And in greater China, Volvo reported PHEV sales more than doubling to 7,153 vehicles in the first quarter.“In March, we marked our sixth consecutive month of growth in deliveries of our fully electric cars, even without the EX60," said Erik Severinson, Volvo chief commercial officer. "The XC70 long-range plug-in hybrid also continues to strengthen our position in China’s rapidly growing new energy vehicle market."
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