2024 was the most successful year ever for Volvo, but the beginning of 2025 does not show continued sales growth. According to the company, in 2024 the Swedish brand sold 8% more cars than in 2023.

The start of the year for Volvo was not expected, at least that is what the sales results for January show. Although the Swedish brand expected continued sales growth, the opposite happened, and in the first month Volvo managed to sell only 50,820 vehicles worldwide. However, the company hopes that hybrids and EVs will play a major role in the future, which can be inferred from the growth in demand for these cars.

In January, Volvo delivered 22,398 hybrids and EVs, which is 17 percent more than in the same month a year earlier. Customers mostly chose PHEV models (12,693 units), which accounted for 28 percent of total sales. On the other hand, EVs were less in demand, but still registered a growth of 5% (9,705 units).

The best-selling mmodel was the XC60 (18,972 units), followed by the XC40/EX40, while the least demanded was the XC90, which recorded a drop in demand compared to January 2024.

It should also be noted that the demand for cars with combustion engines and mild hybrids has fallen. They recorded a 17 percent drop in demand compared to 2024.

Volvo is one of those manufacturers that strongly believes in the future of EVs, and they showed that in October 2024 when they announced that the EU must not abandon the ban on the sale of ICE cars after 2035. They and 49 other car companies have signed a declaration with which they unreservedly support the EU decision, even though they announced that they will continue to produce cars with combustion engines after 2030, but they will have mild hybrid systems and will be produced in limited series.

Source: Volvo