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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.
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.
"Volvo Cars reports 10% sales decline in March as EV sales slow" was originally created and published by Just Auto, a GlobalData owned brand.
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