A few days ago, Volvo Cars announced that it would be subject to trade tariffs andElectric vehicleAffected by weak demand, its global sales in June were 62,858 units, down 12% from the same period last year, and declining for the fourth consecutive month. From January to June this year, the company’s cumulative global sales were 353,780 units, a year-on-year decrease of 9%.
Data released by Volvo Cars also showed that in June, sales of its pure electric models fell by 26%, accounting for 22% of total sales. Including plug-in hybrid modelselectrificationOverall model sales fell by 19%, accounting for 44% of total sales.
A Volvo Cars spokesperson said in an email to Reuters, “The company’s sales performance this month confirms the severe market environment we previously pointed out, and 2025 will be a challenging transition year on the road to achieving our long-term growth ambitions.” ”
In terms of regions, Volvo Cars’ sales in the European market in June were 31,547 units, down 14% year-on-year. Among them, sales of electrified models decreased by 21% year-on-year, accounting for 60% of the company’s total sales in Europe during the month.
Volvo Cars sold 8,627 vehicles in the U.S. market during the month, down 7% year-on-year, with sales of electrified models down 4% year-on-year.
In the Chinese market, Volvo Cars sold 13,569 units in June, down 3% from June 2024, of which electrified models sold 1,068 units, down 26% year-on-year.
In terms of models, Volvo Cars’ best-selling models in June included the XC60 in first place with 20,706 units sold, compared to 19,222 units sold in the same period in 2024. This is followed by the XC40/EX40 with a total sales of 15,442 units, compared to 16,195 units of the XC40/EX40 model in the same period in 2024. Volvo Cars’ flagship SUV, the XC90, sold 8,842 units, compared to 9,139 units sold in the same period last year.
Volvo Cars’ stock price bucked the trend by 4.8% after the sales data was released, but the stock has fallen by 24% since the beginning of this year.
Volvo Cars announced in May that it would lay off 3,000 employees, mainly white-collar jobs, in response to rising costs, slowing demand for electric vehicles and global trade uncertainty. When announcing its cost-cutting plan last month, Volvo Cars also withdrew its financial forecast for this year, citing weakening consumer confidence and tariffs leading to turmoil in the global auto market, making earnings prospects difficultforecast。