Published May 5, 2025
By Obaro Becky
Volvo Cars on Monday reported an 11 per cent decrease in April sales to 58,881 cars from a year earlier, sending its shares down.
Volvo Cars said in a statement that sales of fully electric cars fell 32 per cent to account for 20 per cent of total sales volumes.
Sales of electrified cars as a whole, also including plug-in hybrids, were down 16 per cent to account for 45 per cent of total sales.
Shares in Volvo Cars, which in April withdrew its earnings forecast for the next two years in the face of tariffs, were down 3 per cent in morning trade, taking a year-to-date slump to 29 per cent.
The company did not provide details on regional sales.
Volvo Cars is currently under pressure from US President Donald Trump’s new tariffs.
