GOTHENBURG, Sweden, July 17, 2026 /PRNewswire/ — Volvo Cars today released its results for the second quarter of 2026, highlighted by the delivery of SEK 5 billion in targeted full-year cost savings six months ahead of schedule.

Q2 revenue was SEK 77.7 bn (SEK 93.5 bn in Q2 2025, including SEK 4.0 bn one-off)

Q2 operating income was SEK 0.8 bn (SEK -10.0 bn in Q2 2025)

Q2 EBIT margin was 1.1 per cent (-10.6 per cent in Q2 2025)

Q2 basic earnings per share were SEK 0.42 (SEK -2.53 in Q2 2025)

Q2 fully electric car sales share at 25 per cent (21 per cent in Q2 2025)

Q2 electrified car sales share at 52 per cent (44 per cent in Q2 2025)

Q2 free cash flow of SEK -5.2 billion (SEK 4.2 billion in Q2 2025)

Volvo Cars today released its results for the second quarter of 2026, highlighted by the delivery of SEK 5 billion in targeted full-year cost savings six months ahead of schedule. The company reported a group operating income (EBIT) of SEK 0.8 billion and EBIT margin of 1.1 per cent for the quarter.

The result demonstrates Volvo Cars’ strength in electric cars, a solid sales performance in Europe and its ability to successfully execute on its cost actions. However, the result also reflects a very tough external and competitive environment, which resulted in lower revenues and profitability due to sales mix and pricing effects.

The second quarter was marked by a considerable weakening of the China market for both Volvo Cars and the entire car industry. Global uncertainty because of the ongoing Middle East conflict also increased. However, Volvo Cars saw several underlying developments which give it confidence for the quarters ahead. More details about Volvo Cars’ performance can be found in the second quarter 2026 financial report. 

“In this very challenging external environment, we made progress on our strategic actions,” said Håkan Samuelsson, president and CEO. “This gives us the momentum and confidence that the second half of the year will improve compared to the first six months.”

Signs of US recovery, strong BEV sales in Europe

After several months of sales decline, the US market is showing signs of recovery and Volvo Cars recorded two consecutive months of growth in May and June. The company expects this recovery to continue in the second half of the year, as the negative effects from the withdrawal of incentives on electrified cars lessens. 

In Europe, Volvo Cars’ biggest market, the company’s performance was resilient despite increased competition and a weaker pricing environment. It recorded a continued strong performance of its fully electric cars (BEVs), with a 23 per cent increase versus last year, including Türkiye.

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