Volvo EX60 Draws More Than 50,000 European Orders, but Output Struggles to Keep Pace

Volvo says its EX60 electric vehicle is on track to rank among the brand's best-selling models ever, with more than 50,000 orders placed in Europe. The company is finding, however, that building the car fast enough to meet that demand is proving difficult.

The figures emerged as Volvo reported third-quarter earnings on Friday. The company described the EX60 as "a big success" so far, noting that the orders have come in since production began in April. Only about 5,000 units have actually been built, though.

Volvo attributed the gap to "new industrial technology." It pointed to the EX60's cell-to-body structural battery design, as well as the manufacturing changes needed for its new SPA3 platform. The Swedish automaker acknowledged that the ramp-up is "taking longer than planned," while saying volumes are steadily improving.

Håkan Samuelsson, Volvo Car's president and CEO, called the EX60 a cornerstone of the company's comeback plan and one of its most profitable models. He cautioned, however, that the financial benefits will not materialize until volumes rise.

The slow start is also affecting the US. After first deliveries in Europe this summer, Volvo intended to expand production as the EX60 reached additional markets, the US among them. The company had originally anticipated selling about 7,000 EX60s in the US by the end of 2026. A dealer told Automotive News last week that Volvo is on pace to deliver only a fraction of that figure.

In a note to dealers in late September, Volvo said it had delayed customer deliveries in the US. A company spokesperson confirmed that EX60 availability will "remain limited" in the short term, and said Volvo expects to send dealers significantly more inventory in early 2027.

The delays come as Volvo works to lower its break-even point and improve cash flow under a turnaround plan. As part of the restructuring, it is cutting about 2,500 jobs worldwide, 2,000 of them in Sweden. For the third quarter, the company posted a loss of SEK 3.7 billion ($373 million), and its operating profit margin fell to -5.6%.

"We continue to operate in a very tough environment with strong external challenges: de-globalization, hypercompetition and climate change," Samuelsson said. He added that "in the short term, with severely challenged volumes, we need to reinforce our turnaround plan with additional decisive actions."

Other premium brands are seeing strong early interest in their next-generation electric models. BMW's iX3, built on its Neue Klasse platform, received more than 100,000 orders after going on sale in October 2025. BMW recently added a third shift at its new plant in Debrecen, Hungary, only months after introducing a second shift.

Volvo, for its part, is counting on the SPA3 platform to cut production costs, lift profit margins and speed its move toward software-defined vehicles. The turnaround plan includes the company's largest-ever product push, with 13 new cars planned through the end of 2030.