Volvo S90 Slashes Prices—2026 Model Starts at RMB 229,900

Recently, the Volvo S90 has seen a significant price reduction in the Chinese market. The official manufacturer's suggested retail price (MSRP) for the 2026 S90 IntelliSafe Luxury trim is RMB 406,900, with the official trade-in starting price adjusted down to RMB 229,900. In some regions, dealers are offering cash-only ex-factory prices as low as RMB 205,000. Compared to the special promotional price of RMB 300,900 at its launch in early 2025, the model’s price has dropped by over RMB 70,000 within just over a year. Sales data shows a continuous monthly decline in S90 deliveries: averaging around 3,500 units per month in 2023, falling to 2,500 units in 2024, and further dropping to 1,500 units in 2025. From April to June 2026, monthly sales have remained between 400 and 500 units—specifically, 428 units were sold in April—with total first-half 2026 sales exceeding 5,000 units. Overall, Volvo’s China sales totaled 149,000 vehicles in 2025, down 4% year-over-year, with revenue declining by 23%. In the first half of 2026, Greater China sales reached 53,200 units, while global sales fell by 8% year-over-year. In May 2026, Volvo appointed Duan Jianjun, former Mercedes-Benz executive, as President of Greater China, giving him full responsibility for all domestic operations across the entire value chain. The recent S90 price cut is widely viewed as one of his key strategic moves since taking office. On the product front, the S90 remains based on Volvo’s aging SPA platform, which hasn’t been updated in years. Its infotainment chip and basic L2-level driver-assistance system lag behind competitors. All trims are equipped solely with a 2.0-liter turbocharged engine paired with a 48V mild-hybrid system and front-wheel drive, lacking both six-cylinder engine options and all-wheel-drive configurations. In terms of electrification, while Volvo’s global new energy vehicle (NEV) sales are growing, NEVs account for only 27% of its China sales. Its two flagship all-electric models combined sell just over 20 units per month, and plug-in hybrid (PHEV) models have also failed to meaningfully bolster overall performance in the market.