The Volvo EX60 has over 50,000 orders in Europe. Approximately 5,000 vehicles have been built.
Along with its third-quarter 2026 results, Volvo acknowledged that the EX60 has received over 50,000 orders in Europe since production began in April. The factory has produced around 5,000 units so far. In Poland, the model costs starting at 281,900 zł.
According to the Swedish company, this is a “huge success.” The issue is that there are roughly ten times as many orders as cars that have left the production line.
Launch taking longer than expected
Volvo attributes the delays to “new industrial technology.” This refers to the cell-to-body battery structure and production changes needed to bring the SPA3 platform online. The company admits that getting the factory up and running “is taking longer than planned,” although it claims volumes are still increasing.
President Håkan Samuelsson called the EX60 the cornerstone of the recovery plan and one of the brand’s most profitable models. He noted, however, that financial benefits will only appear once production picks up speed. The first vehicles were delivered to customers in Europe over the summer.
USA: just a fraction instead of 7,000 cars
Volvo had expected to sell around 7,000 EX60s in the USA by the end of 2026. A dealer quoted by Automotive News said the company will deliver only a fraction of that number. In a note at the end of September, Volvo informed dealers of delays in delivering vehicles to customers. A spokesperson confirmed that availability “will remain limited” in the short term, with many more cars set to reach dealerships at the beginning of 2027.
Losses, cuts, and 13 new models
The delay comes at a bad time. Volvo reported a loss of 3.7 billion SEK (about $373 million) in the third quarter, with its operating margin dropping to -5.6%. As part of the restructuring, the company is cutting around 2,500 jobs worldwide, including 2,000 in Sweden.
Samuelsson identified three causes of the difficulties: deglobalization, hypercompetition, and climate change. He added that with “severely weakened volumes,” the recovery plan needs to be strengthened through “additional decisive actions.”
Volvo is focusing on SPA3, which aims to reduce production costs and boost margins. By the end of 2030, the company plans to launch 13 new models, marking its largest product offensive in history.
The premium segment competitors are performing better. The BMW iX3, built on the Neue Klasse platform, has received over 100,000 orders since its launch in October 2025. The factory in Debrecen, Hungary, has already started its third shift, just a few months after beginning the second.
Volvo is not short of demand. It now needs to prove it can turn that demand into cars before customers start looking at BMW.
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