Volvo Cars reported 58,881 units sold globally in April 2025, an 11% decrease from the previous year. Sales of pure electric vehicles (EVs) dropped 32% to 11,697 units, with EVs comprising just 20% of total sales.
Plug-in hybrid (PHEV) vehicle sales rose 2% year-on-year, reaching 14,688 units, or 25% of total sales. However, overall electrified models (EVs + PHEVs) declined by 16%, comprising 45% of total sales.
Internal combustion engine and mild hybrid models totaled 32,496 units, a 5% decrease, making up 55% of Volvo’s total sales.
Volvo, aiming for a complete transition to electric vehicles by 2030, faces challenges as recent performance shows a decline in EV sales. The 32% drop in April sales compared to last year highlights structural issues, including slowing global EV demand and increased competition.
The success of PHEVs suggests that consumers hesitant to fully transition to electric cars prefer plug-in hybrids as an intermediate option. This indicates Volvo’s strategy to strengthen its PHEV lineup in the short term, building a defense against the decline in EV profitability.
The XC60 and XC90 models, outperforming competitors, still focus on internal combustion engines and hybrids. This highlights Volvo’s dilemma in balancing electrification with profitability, as sales remain dependent on traditional models despite the brand’s push for electric vehicles.
Volvo’s future electrification strategy will depend on its ability to quickly adapt, including an EV strategy for the Chinese market, a PHEV-focused approach in Europe, and the adoption of NACS charging standards in the U.S.
