The news leaves Fallon Worldwide in Minneapolis squaring up against a team comprising the independent London agency Nitro and the Boston-based Arnold Worldwide, which, like Euro RSCG, is owned by Havas.
The final shoot-out will bring to a close one of the most high-profile global pitches of 2007, with a decision expected in four weeks' time. At the end of February, latecomer Goodby, Silverstein & Partners, which had teamed up with 180 Amsterdam, withdrew from the pitch to pursue another car account, thought to be Hyundai.
Both teams will present their final pitches in the week commencing 16 April.
Euro RSCG has held the creative brief since 1991, but the Volvo brand has been suffering in recent months with falling sales, hence the global account being put out to pitch.
Recent TV advertising, by Euro RSCG/Fuel, for the Volvo C30 features a variety of opinions. It uses animation to present the points of view, before inviting the viewer to decide with the line: "That's one opinion, what's yours?"
The review is being handled by the AAI Haystack Partnership, the alliance between The Haystack Group and Agency Assessments International.