S&P 500 cuts losses as Nvidia climbs ahead of results
Investing.com -- Volvo (OTC:VLVLY) Cars’ (ST:VOLCARb) global sales dropped 12% in June compared to the same month last year, with declines seen across key markets including Europe, the U.S. and China, the automaker said in a statement on Wednesday.
The Swedish automaker reported sales of 62,858 vehicles for the month, down from 71,514 in June 2024.
Year-to-date sales from January through June totaled 353,780 cars, a 9% decrease from the 388,073 units sold in the same period last year.
Sales of electrified vehicles, which include fully electric and plug-in hybrid models, fell 19% in June compared to a year earlier, making up 44% of all cars sold during the month. Fully electric vehicles accounted for 22% of total sales.
The number of electric cars sold in June fell by 26% from June last year to 13,674 units.
In Europe, sales fell 14% year over year to 31,547 cars. Electrified models in the region decreased by 21%, with fully electric sales down 29% and plug-in hybrid sales down 10%. Electrified vehicles made up 60% of all units sold in Europe in June.
U.S. sales declined 7% to 8,627 cars. Electrified models decreased by 4%, driven by a 23% drop in plug-in hybrid vehicles.
Fully electric vehicle sales rose to 912 cars, up from 386 a year earlier, an increase of 136%.
Sales in China totaled 13,569 cars, a 3% decrease from June 2024. Sales of electrified models dropped 26%, with fully electric vehicles falling 69% to 126 units. Plug-in hybrid models declined 9%.
The XC60 was Volvo’s top-selling model in June, with 20,706 units sold, up from 19,222 in the same month last year.
The XC40/EX40 followed with 15,442 units, down from 16,195, and the XC90 recorded 8,842 units, compared to 9,139 a year earlier.
For the first half of 2025, electrified vehicle sales totaled 155,019 cars, an 11% drop from the same period in 2024.
Fully electric vehicle sales declined 23% to 70,211 units, while plug-in hybrid models rose 2% to 84,808.
In 2024, Volvo Cars reported record full-year global sales of 763,389 vehicles, revenue of SEK 400.2 billion and a core operating profit of SEK 27 billion.