Volvo Cars (VOLCARb.ST) announced on Tuesday that it sold 50,662 cars in February, marking a 1% increase compared to the previous year. However, the Sweden-based company also reported a 15% decrease in sales of its fully electric vehicles for the same period.
Sales of fully electric cars accounted for 18% of total sales in February, according to the company. Electrified car sales as a whole, including plug-in hybrids, also decreased by 3%, representing 43% of total sales.
Volvo Cars, which is majority-owned by China’s Geely Holding, had previously warned of a challenging and competitive market in 2025. Shares in the company were down 1.7% at 0805 GMT, slightly underperforming the broader Stockholm market.
Volvo EX30 electric SUV unveiled in Milan.
