Sweden-based Volvo Cars recorded a 10% drop in global sales for March 2025 due to lower sales of fully electric vehicles.
The Geely-owned carmaker sold 70,737 cars compared to the same month last year.
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Sales of electrified models, including fully electric and plug-in hybrid vehicles, fell 9% compared to March 2024.
The share of electrified models made up 43% of total car sales for the month, while fully electric vehicles accounted for 19% of all units sold.
In Europe, the company sold 36,093 cars in March, a 9% decrease compared to the same period previous year, with electrified models seeing an 18% decline.
Volvo Cars, in the US, experienced an 8% drop in sales, with 14,052 cars sold in March. However, the sales of electrified models in the country increased by 5% compared to the same period last year.
Meanwhile, in China, sales plummeted by 22%, with 10,867 cars sold. Despite this, sales of electrified models in China increased by 20%, with 1,243 cars sold.
The Volvo XC60 remained the company’s top-selling model in March, with 23,776 cars sold, followed by the XC40/EX40 and the XC90.
The first quarter of the year (Jan-Mar) saw Volvo Cars’ global sales reach 172,219 cars, marking a 6% decrease from the same period in the previous year.
Volvo Cars appointed Håkan Samuelsson as chief executive officer and president, effective 1 April 2025.
Samuelsson, who previously served as Volvo Cars CEO from 2012 to 2022, will hold the position for two years while the company prepares to name a long-term successor.
During his previous tenure at Volvo Cars, Samuelsson led the company’s transformation into a “global premium brand” and its subsequent public listing. He also held the position of Polestar chairperson until 2024.
Samuelsson will succeed Jim Rowan who served as CEO since 2022.
