Global carmaker Volvo Cars reported a 12% decline in sales for May 2025, delivering 59,822 vehicles compared to 68,034 units sold in May 2024. The drop was primarily attributed to a significant decline in demand for electrified models, including both fully electric and plug-in hybrid vehicles.
Electrified models accounted for 44% of total sales in May, marking a 20% year-on-year decrease, with fully electric vehicles falling by 27% and plug-in hybrids down 11%. Fully electric cars represented 21% of all sales for the month, while plug-in hybrids made up 23%.
Despite the overall dip, the XC60 remained Volvo’s top-performing model, selling 19,408 units in May. It was followed by the XC40/EX40 lineup with 14,892 units, and the XC90 at 8,794 units.
Volvo Cars Sales Performance: May 2025 vs. 2024
| Category | May 2025 | May 2024 | Change |
|---|---|---|---|
| Total Sales | 59,822 | 68,034 | -12% |
| Electrified Models | 26,344 | 32,768 | -20% |
| – Fully Electric | 12,391 | 17,064 | -27% |
| – Plug-in Hybrid | 13,953 | 15,704 | -11% |
| Mild Hybrid / ICE Models | 33,478 | 35,266 | -5% |
Cumulative sales for January–May 2025 also reflected an 8% decline, with 290,922 vehicles sold globally compared to 316,559 units during the same period in 2024. Electrified models during this five-month span totaled 127,212 units, down 9% year-on-year.
Interestingly, plug-in hybrid sales rose 6% year-to-date, counterbalancing the 22% plunge in fully electric vehicle sales, indicating shifting consumer dynamics within the electrified segment.
January–May 2025 vs. 2024
| Category | Jan–May 2025 | Jan–May 2024 | Change |
|---|---|---|---|
| Total Sales | 290,922 | 316,559 | -8% |
| Electrified Models | 127,212 | 139,286 | -9% |
| – Fully Electric | 56,537 | 72,325 | -22% |
| – Plug-in Hybrid | 70,675 | 66,961 | +6% |
| Mild Hybrid / ICE Models | 163,710 | 177,273 | -8% |
Background and Outlook
Despite the recent decline in sales, Volvo Cars ended 2024 on a strong note, reporting a record-breaking SEK 27 billion in core operating profit and SEK 400.2 billion in revenue. The company achieved record global sales of 763,389 units in 2024, affirming its strong foothold in the premium automotive segment.
Headquartered in Gothenburg, Sweden, Volvo Cars remains committed to its long-term vision of becoming a fully electric carmaker and achieving net-zero emissions by 2040. It continues to invest in electric vehicle platforms, R&D, and sustainable production across its plants in Europe, the U.S., and China.
