by In September of last year, Volvo revised its strategy and abandoned its promise to become an exclusively electric brand by 2030. Now, eight months later, this decision looks like a transparent move. The automaker, owned by Geely, has published the latest sales data, which shows an almost one-third drop in electric vehicle registrations.
In April of this year, sales of Volvo’s electric models decreased by 32% compared to the same period last year. While 17,090 electric cars were sold in April 2024, this year it was only 11,697. Sales of plug-in hybrids (PHEV) saw a slight increase of 2% (14,688 cars), while mild hybrids and internal combustion engine (ICE) cars lost 5% (34,315 units).
The overall indicator for electrified vehicles (BEV + PHEV) fell by 16%, and total sales of all vehicle types in April amounted to 65,838 units – 11% less than last year. The weak results of the last month significantly worsened the figures for the first quarter: a decline of 6% over three months and 7% over the first four months of 2025.
Unsatisfactory demand for electric cars is observed, despite the start of EX30 sales in the US and the beginning of sales of the large EX90. However, Volvo, like other automakers, is feeling the impact of Trump’s tariffs, albeit less than Audi or Porsche. Although the EX90 is assembled in South Carolina, other models (XC90, XC60, XC40, EX30) are imported from abroad, making them more expensive.
Volvo Sales in April 2025
| April-25 | April-24 | Change | Jan-Apr 25 | Jan-Apr 24 | Change | |
| Electrified Vehicles | 26,385 | 31,523 | -16% | 100,868 | 106,518 | -5% |
| – Fully Electric | 11,697 | 17,090 | -32% | 44,146 | 55,261 | -20% |
| – Plug-in Hybrids | 14,688 | 14,433 | 2% | 56,722 | 51,257 | 11% |
| Mild Hybrids/ICE | 32,496 | 34,315 | -5% | 130,232 | 142,007 | -8% |
| Total | 58,881 | 65,838 | -11% | 231,100 | 248,525 | -7% |
To address the problem, Volvo plans to start production of a second model (likely the XC60 or XC90) at its US plant. The company recently discontinued sales of the S90 in the US due to tariffs, although the updated sedan will remain available for the Asian market.
Managing the exit from the crisis has been entrusted to Håkan Samuelsson, who returned to the CEO position on April 1st with a two-year contract. He replaced Jim Rowan, who had led the company since 2022 but was dismissed this spring.
