Volvo Cars reported a 10% year-over-year decrease in global sales for March 2025, totaling 70,737 vehicles. This decline is attributed to varying consumer demand across key markets and challenges in the electric vehicle (EV) sector.
Electrified models, including fully electric and plug-in hybrid vehicles, constituted 43% of Volvo’s total sales in March, amounting to 30,487 units. Notably, sales of fully electric vehicles dropped by 26% to 13,414 units, while plug-in hybrid sales increased by 10% to 17,073 units. The XC60 SUV remained the company’s top-selling model, with 23,776 units sold during this period.
In Europe, Volvo’s largest market, sales declined by 9% to 36,093 units. The region experienced a significant 39% decrease in fully electric vehicle sales, though plug-in hybrid sales rose by 15%. Electrified vehicles accounted for 57% of the total sales in Europe.
The Chinese market saw a 22% overall sales decline. Despite this, electrified vehicle sales in China increased by 20% to 1,243 units, driven by a 59% surge in plug-in hybrid sales, which offset a 53% drop in fully electric vehicle sales.
In the United States, sales decreased by 8%. However, the country experienced a 181% increase in fully electric vehicle sales, reaching 985 units, contributing to a 5% overall rise in electrified vehicle sales.
For the first quarter of 2025, Volvo’s global sales totaled 172,219 vehicles, marking a 6% decline compared to the same period in the previous year. Sales of electrified models during this quarter amounted to 74,483 units, representing a 1% decrease year-over-year.
