VOLVO CARS SALES DROP 11% IN APRIL WITH SHARP DECLINE IN FULLY ELECTRIC VEHICLES

Volvo Cars reported an 11% decline in global sales for April, totaling 58,881 vehicles compared to the previous year, driven by a significant 32% drop in fully electric vehicle (EV) sales, as announced this week.

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The Sweden-based automaker, majority-owned by China's Geely, saw electrified vehicles, including plug-in hybrids, fall 16%, accounting for 45% of total sales, while fully electric models comprised 20%.

For investors, consumers, and the automotive industry, the slump reflects challenges from U.S. tariffs, shifting consumer preferences, and intense competition, prompting Volvo to withdraw its earnings forecast for the next two years.

The sales decline, which sent Volvo's shares down 3% and contributed to a 29% year-to-date stock drop, highlights the impact of new U.S. tariffs under President Donald Trump, affecting Volvo's strategy in the American market.

The company, which did not provide regional sales breakdowns, is working with Geely to cut costs while maintaining sales of hybrids and combustion-engine models favored by U.S. consumers.

The launch of the fully electric ES90 sedan in March 2025 failed to offset the broader EV sales downturn, raising concerns about Volvo's electrification goals.

APRIL SALES PERFORMANCE

Volvo sold 58,881 vehicles in April, an 11% decrease from the prior year, with fully electric vehicles dropping 32% to represent 20% of total sales. Electrified vehicles, including plug-in hybrids, declined 16%, making up 45% of sales volumes. The company did not disclose regional sales data, limiting insights into specific market trends.