Volvo EX60 tops 50,000 orders in Europe, but only about 5,000 have been built

Volvo says its new EX60 electric SUV is on track to be one of its best-selling cars ever, with more than 50,000 orders in Europe. The catch is that the company can't build them fast enough. Volvo shared the figures alongside its third-quarter results on Friday, as Electrek reports.

Demand is there, cars are not

Production started in April, and Volvo has built only around 5,000 EX60s so far. The company blames "new industrial technology": the EX60 is the first car on Volvo's new SPA3 platform and uses a cell-to-body design, where the battery is part of the car's structure. Volvo admits the ramp-up is "taking longer than planned" but says volumes are steadily improving.

That matters for buyers outside Europe too. Volvo had expected to sell about 7,000 EX60s in the US by the end of 2026, but it told dealers in late September that customer deliveries would be delayed. A spokesperson says availability will "remain limited" in the short term, with much more stock expected to reach dealers in early 2027.

A tough quarter for Volvo

The EX60 is central to Volvo's turnaround plan, and CEO Håkan Samuelsson calls it one of the company's most profitable models. The financial benefit will only show once production catches up. For now, the numbers are difficult:

• An operating loss of SEK 3.7 billion in the third quarter, an EBIT margin of -5.6%.
• About 2,500 job cuts worldwide, around 2,000 of them in Sweden.
• A plan for 13 new cars by the end of 2030, Volvo's biggest product push to date.

BMW shows what a fast start looks like: its Neue Klasse-based iX3 has passed 100,000 orders since going on sale in October 2025.

Volvo is also working with Nvidia on automated driving for its next cars. If you're comparing EVs, our explainer on LFP vs NMC batteries covers what battery chemistry means for range and longevity.