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Investing.com -- Volvo (ST:VOLVb) reported a 12% drop in global sales for May, delivering 59,822 vehicles compared to 68,034 in the same month last year. Electrified models — including fully electric and plug-in hybrid vehicles — made up 44% of total sales but declined 20% year-on-year.
Sales of fully electric cars fell 27% to 12,391 units, while plug-in hybrids dropped 11% to 13,953 units.
In contrast, mild hybrids and internal combustion engine models slipped just 5% to 33,478 units.
Among individual models, the XC60 remained the top seller with 19,408 units, down from 20,507 a year earlier.
The XC40/EX40 line followed with 14,892 units sold, up from 13,640.
The XC90 ranked third at 8,794 units, a slight decrease from 9,072.
Year-to-date, Volvo has sold 290,922 vehicles, marking an 8% decline from the same period in 2024. Fully electric sales are down 22% so far this year, while plug-in hybrids have seen a 6% rise.
Volvo shares rose less than 1% on Wednesday following the market open.