Published by Global Banking & Finance Review®
Posted on May 5, 2025
1 min readLast updated: January 24, 2026
Add as preferred source on GoogleVolvo Cars saw an 11% drop in April sales, with electric vehicles down 32%. The company faces challenges from U.S. tariffs and competition in China.
STOCKHOLM (Reuters) -Volvo Cars reported on Monday an 11% decrease in April sales to 58,881 cars from a year earlier, sending its shares down.
Volvo Cars, which is majority-owned by China's Geely, said in a statement sales of fully electric cars fell 32% to account for 20% of total sales volumes.
Sales of electrified cars as a whole, also including plug-in hybrids, were down 16% to account for 45% of total sales.
Volvo Cars, under pressure from U.S. President Donald Trump's new tariffs, is juggling the task of working with Geely to cut costs while attempting to keep selling cars to U.S. consumers, who favour hybrids and combustion-engine models.
The Sweden-based company, alongside European peers, also wants to win over Chinese customers despite stiff competition from local auto makers who offer more affordable EVs.
Shares in Volvo Cars, which in April withdrew its earnings forecast for the next two years in the face of tariffs, were down 3% in morning trade, taking a year-to-date slump to 29%.
The company did not provide detail on regional sales.
(Reporting by Anna Ringstrom and Louise Rasmussen, editing by Stine Jacobsen)
The main topic is the 11% decline in Volvo Cars sales in April, particularly the slump in electric vehicle sales.
Electric car sales fell by 32%, accounting for 20% of Volvo's total sales.
Volvo is dealing with U.S. tariffs and increased competition in the Chinese market.
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