Volvo Car AB reported a 10% year-on-year decline in sales for the February–April period, reflecting ongoing pressure in key global markets.
The company sold 162,864 vehicles during the three-month period ending April, as weaker demand in China and softer customer sentiment in the United States weighed on performance. Pricing pressure in the SUV segment and slower demand for electrified vehicles also contributed to the decline, News.Az reports, citing Reuters.
Sales in China remained under pressure due to strong competition and broader economic challenges, while deliveries in the U.S. were affected by reduced consumer confidence and shifting demand trends.
Despite the overall drop, Volvo’s electrified vehicle segment continued to grow in parts. Fully electric models rose 14% to 39,235 units, accounting for nearly a quarter of total sales. However, plug-in hybrid sales declined during the same period.
Electrified vehicles, including both fully electric and plug-in hybrids, made up 48% of total sales, highlighting the company’s ongoing transition toward electrification.
Volvo said its European market, the largest for the company, remained relatively stable, supported by strong demand for electric models such as the EX30 and EX40. The company also noted that fully electric vehicle deliveries have increased for seven consecutive months.
Despite continued EV growth, Volvo acknowledged that the automotive industry is still facing challenging market conditions, which are reflected in its recent performance.
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