Volvo Q1 Sales in Greater China Drop 17% Despite EV Sales Doubling

Volvo Cars recently announced global sales of 153,316 vehicles for the first quarter of 2026, a year-over-year decline of 11%. Sales in Greater China totaled 28,330 units, down 17% compared to the same period last year, primarily due to intensified market competition, an extended Lunar New Year holiday, and seasonal factors. However, electric models performed strongly in the region, with sales reaching 7,604 units—an increase of 116% year-over-year—and plug-in hybrid deliveries surging by 146%. Globally, fully electric vehicle sales rose by 12%, accounting for 23.7% of total sales, while electrified models (including plug-in hybrids) represented 47.3% of overall sales. In the Americas, sales plummeted by 28%, impacted by the removal of government subsidies and geopolitical tensions. Sales in Europe and other regions dipped slightly by 2%, but electrified vehicles accounted for a substantial 57% of total sales there.