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Volvo Vehicles introduced worldwide gross sales of 59,822 automobiles in Could, which was a lower of 12% in contrast with the identical month in 2024. This was partly as a result of firm fighting just lately imposed US automotive tariffs.
Electrified fashions — each plug-in hybrids and absolutely electrical automobiles — made up 44% of all automobile gross sales in Could. This was a fall from 66% in Could 2024. Whereas absolutely electrical fashions made up 21% of all Could gross sales, plug-in hybrid fashions accounted for 23%.
The perfect-selling mannequin in Could was the XC60, which offered 19,408 items — a slight dip from the 20,507 items offered in the identical month final 12 months. The XC40/EX40 mannequin took second place, with 14,892 items offered — a rise on Could 2024’s 13,640 items.
The third best-selling mannequin was the XC90 with 8,794 items offered in Could 2025. Against this, 9,072 items of this mannequin have been offered in Could 2024.
As of December 2024, Volvo Vehicles had about 42,600 full-time staff, with its head workplace based mostly in Gothenburg, Sweden, and manufacturing vegetation throughout the US, Belgium and in China.
Volvo Vehicles begins implementing cost-cutting initiatives
Volvo Vehicles additionally just lately introduced that it might be slashing 3,000 jobs, as a part of wide-ranging cost-cutting measures, that are anticipated to save lots of the corporate about SEK 18 billion (€1.6bn).
These layoffs will primarily have an effect on office-based positions in Sweden, which make up round 15% of Volvo Vehicles’ white collar workforce. Out of those 3,000 layoffs, round 1,000 will likely be marketing consultant positions.
Earlier in Could, the corporate laid off 5% of its employees in its Ridgeland, South Carolina facility, which accounted for 125 roles.
Volvo Vehicles mentioned in a press launch concerning the redundancies on its web site: “These structural modifications are essential for Volvo Vehicles to ship on its long-term technique, strengthening its foundations for worthwhile development.
“Volvo Vehicles stays agency on its ambition of turning into a completely electrical automobile firm, as absolutely electrical is the quickest rising market section and Volvo Vehicles is a frontrunner on this transition.”
Again in 2021, the corporate revealed that every one its fashions can be electrical by the tip of the last decade. Nonetheless, it has pushed again this objective, citing rising uncertainties on account of electrical car (EV) tariffs in lots of markets.
Aside from tariffs, slower European gross sales and the upper price of supplies have additionally affected a number of main automobile firms in Europe.
Nissan, Ford, Common Motors, Volkswagen, Tesla and Stellantis have all introduced layoffs in the previous few months, as automobile firms scramble to turn into extra environment friendly and adaptive within the present unsure financial setting.