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Investing.com -- Volvo (ST:VOLVb) reported a 14% year-on-year decline in global sales for July, delivering 49,273 vehicles during the month. The drop marks another consecutive monthly contraction for the Sweden-based automaker, which is majority-owned by China’s Geely.
Electric vehicles (EVs) continued to drag on overall performance. Fully electric vehicle sales slipped 26% to 10,511 units, while plug-in hybrid deliveries were down 21% to 11,461. Together, electrified models made up 45% of total sales last month, compared to 51% in July 2024.
The company’s top performer remained the XC60, with 16,813 units sold, an increase from 15,577 a year ago. The XC40/EX40 followed with 12,087 units, down from 13,818, while XC90 sales dropped to 7,266 from 8,146.
The latest figures extend a downward trend seen throughout the year. In June, Volvo’s global sales were down 12% at 62,858 vehicles.
Similar declines were recorded in May and April, both down 12% and 11%, respectively. March sales fell 10% to 70,737 units.