Volvo Cars global sales decline 12% in June
The Swedish automaker reported sales of 62,858 vehicles for June, down from 71,514 sold in the same period last year.
The first half of the year saw a 9% decrease in sales, totalling 353,780 cars. The company's fully electric cars made up 22% of total sales for the month, while sales of electrified models – both fully electric and plug-in hybrids – fell by 19% year-on-year, representing 44% of June's total sales.
In Europe, Volvo Cars sold 31,547 cars in June, marking a 14% decrease from last year. Electrified models saw a 21% sales drop but still accounted for 60% of the total cars sold in the region.
The US market experienced a 7% sales decline, with 8,627 cars sold, and sales of electrified models saw a 4% drop.
China's sales for Volvo Cars stood at 13,569 cars, a 3% decrease from June last year. Electrified model sales in China fell significantly by 26%.
The Volvo XC60 remained the top-selling model in June with 20,706 units sold, followed by the XC40/EX40 at 15,442 cars, and the XC90 with 8,842 cars sold.
Volvo Cars also saw a 12% decline in global sales for May, with a total of 59,822 cars sold during the period.
The automaker is set to cut around 3,000 jobs as part of a restructuring initiative aimed at addressing high costs, slowing electric vehicle demand, and trade uncertainties. As of December 2024, Volvo Cars had around 42,600 full-time employees.
"Volvo Cars global sales decline 12% in June" was originally created and published by Just Auto, a GlobalData owned brand.
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