Volvo XC70 two-wheel-drive version's terminal落地 price below 200,000 yuan; Q3 net loss approximately 5.7 billion Swedish kronor.

In late October, multiple Volvo stores in Beijing were offering the two-wheel-drive version of the plug-in hybrid SUV XC70 at an on-road price below 200,000 yuan. Under one store's purchase plan, after stacking various subsidies, the on-road price of the XC70 was more than 50,000 yuan lower than that of the gasoline-powered XC60, which has a similar guide price. A salesperson at the store said the XC70 sells more than 20 units per month, accounting for 30% to 40% of the store's total sales, and has outsold the XC60; based on the pricing at the time, the store lost more than 20,000 yuan on each XC70 sold. As of the end of October, the store still had a sales shortfall of more than 10 units. Volvo's sales assessment cycle for dealership stores has been adjusted from annual and quarterly to monthly assessments starting in 2026. The Volvo brand experience store at Joy City in Xidan, Beijing, has recently been unstaffed, with the doors of the display cars locked. Volvo's official customer service confirmed that the store's pre-sales business has been canceled. A salesperson at another nearby store confirmed that the experience store has recently ceased operations; it had previously mainly handled test drives and customer traffic generation. Since 2026, Volvo dealers have withdrawn from the network in multiple locations. The number of stores in Guangzhou has decreased from 6 to 3, Foshan has been reduced to 1, and dealers in Kunming, Shenzhen, Beijing and other places have successively exited. Multiple Volvo 4S stores under Guanghui Automobile have been shut down due to funding problems. Financial reports show that in the third quarter of 2026, Volvo's global sales were 141,600 vehicles, down 10.7% year on year; deliveries in Greater China were 20,300 vehicles, down 40.6% year on year. During the same period, Volvo's revenue in the Chinese market fell by nearly 50% year on year. In the third quarter, Volvo's revenue was 66.9 billion Swedish kronor, down 22.6% year on year; operating profit swung from a profit of 6.4 billion Swedish kronor in the same period last year to a loss of 5.6 billion Swedish kronor, and the operating margin fell from 7.4% to -8.4%. After including financial expenses and taxes, the company posted a net loss of about 5.7 billion Swedish kronor, its first quarterly net loss of the year. In early October, Volvo withdrew its full-year performance guidance and announced an additional reduction of 5 billion Swedish kronor in indirect expenses and variable costs on top of its previous cost-cutting plan, with structural layoffs of about 2,500 positions globally, of which about 2,000 are in Sweden. The company expects to recognize about 600 million Swedish kronor in restructuring costs in the fourth quarter. Volvo's first batch of China-exclusive models developed on Geely's technology base is planned to be launched in mid-2027.