Latest news with #XC60
Yahoo
4 days ago
- Automotive
- Yahoo
Volvo Cars sales decline by 12% in May
Geely-owned Volvo Cars has reported a 12% decline in global sales for May, with a total of 59,822 cars sold during the period. This downturn is compared to the same period last year, indicating a significant shift in the company's sales dynamics. Electrified models, which include fully electric and plug-in hybrid cars, constituted 44% of the total sales for May, yet they experienced a 20% decrease from the previous year. Fully electric cars made up 21% of the total sales, while plug-in hybrids accounted for 23%. The XC60 emerged as the top-selling model with 19,408 units, followed by the XC40/EX40 at 14,892 cars, and the XC90 at 8,794 cars. Sales of mild hybrids and internal combustion engine vehicles reached 33,478 units in May, marking a 5% year-over-year decline. The sales of fully electric vehicles saw a significant 27% annual drop, with 12,391 units sold, and plug-in hybrid deliveries fell by 11% to 13,953 cars compared to the same period a year earlier. In the first five months of 2025, Volvo Cars sold 290,922 units, which is an 8% decrease year-on-year. In April, figures had already shown a downward trend, with a 10% drop in global sales for March 2025, primarily due to reduced sales of fully electric vehicles. The company sold 70,737 cars, compared to the same month in the previous year. Also, Volvo Group, the parent company, also reported a 7% drop in net sales to Skr121.8bn ($12.65bn) for the first quarter of 2025, ending on 31 March, down from Skr131.2bn in the same period last year. Sales declined across all regions and segments, with the exception of buses. Both adjusted and reported operating income for Q1 2025 stood at Skr13.25bn, a decrease from Skr18.15bn in Q1 2024. "Volvo Cars sales decline by 12% in May" was originally created and published by Just Auto, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
6 days ago
- Automotive
- Yahoo
Volvo Cars sales plunge 12% in May as tariff challenges continue
Volvo Cars announced worldwide sales of 59,822 cars in May, which was a decrease of 12% compared with the same month in 2024. This was partly due to the company struggling with recently imposed US automotive tariffs. Electrified models — both plug-in hybrids and fully electric vehicles — made up 44% of all car sales in May. This was a fall from 66% in May 2024. While fully electric models made up 21% of all May sales, plug-in hybrid models accounted for 23%. The best-selling model in May was the XC60, which sold 19,408 units — a slight dip from the 20,507 units sold in the same month last year. The XC40/EX40 model took second place, with 14,892 units sold — an increase on May 2024's 13,640 units. The third best-selling model was the XC90 with 8,794 units sold in May 2025. By contrast, 9,072 units of this model were sold in May 2024. As of December 2024, Volvo Cars had about 42,600 full-time employees, with its head office based in Gothenburg, Sweden, and production plants across the US, Belgium and in China. Volvo Cars also recently announced that it would be slashing 3,000 jobs, as part of wide-ranging cost-cutting measures, which are expected to save the company about SEK 18 billion (€1.6bn). These layoffs will primarily affect office-based positions in Sweden, which make up around 15% of Volvo Cars' white collar workforce. Out of these 3,000 layoffs, around 1,000 will be consultant positions. Earlier in May, the company laid off 5% of its staff in its Ridgeland, South Carolina facility, which accounted for 125 roles. Volvo Cars said in a press release about the redundancies on its website: 'These structural changes are necessary for Volvo Cars to deliver on its long-term strategy, strengthening its foundations for profitable growth. 'Volvo Cars remains firm on its ambition of becoming a fully electric car company, as fully electric is the fastest growing market segment and Volvo Cars is a leader in this transition.' Back in 2021, the company revealed that all its models would be electric by the end of the decade. However, it has pushed back this goal, citing rising uncertainties due to electric vehicle (EV) tariffs in many markets. Apart from tariffs, slower European sales and the higher cost of materials have also affected several major car companies in Europe. Nissan, Ford, General Motors, Volkswagen, Tesla and Stellantis have all announced layoffs in the last few months, as car companies scramble to become more efficient and adaptive in the current uncertain economic environment. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Euronews
6 days ago
- Automotive
- Euronews
Volvo Cars sales plunge 12% in May as tariff challenges continue
Volvo Cars announced worldwide sales of 59,822 cars in May, which was a decrease of 12% compared with the same month in 2024. This was partly due to the company struggling with recently imposed US automotive tariffs. Electrified models — both plug-in hybrids and fully electric vehicles — made up 44% of all car sales in May. This was a fall from 66% in May 2024. While fully electric models made up 21% of all May sales, plug-in hybrid models accounted for 23%. The best-selling model in May was the XC60, which sold 19,408 units — a slight dip from the 20,507 units sold in the same month last year. The XC40/EX40 model took second place, with 14,892 units sold — an increase on May 2024's 13,640 units. The third best-selling model was the XC90 with 8,794 units sold in May 2025. By contrast, 9,072 units of this model were sold in May 2024. As of December 2024, Volvo Cars had about 42,600 full-time employees, with its head office based in Gothenburg, Sweden, and production plants across the US, Belgium and in China. Volvo Cars also recently announced that it would be slashing 3,000 jobs, as part of wide-ranging cost-cutting measures, which are expected to save the company about SEK 18 billion (€1.6bn). These layoffs will primarily affect office-based positions in Sweden, which make up around 15% of Volvo Cars' white collar workforce. Out of these 3,000 layoffs, around 1,000 will be consultant positions. Earlier in May, the company laid off 5% of its staff in its Ridgeland, South Carolina facility, which accounted for 125 roles. Volvo Cars said in a press release about the redundancies on its website: 'These structural changes are necessary for Volvo Cars to deliver on its long-term strategy, strengthening its foundations for profitable growth. 'Volvo Cars remains firm on its ambition of becoming a fully electric car company, as fully electric is the fastest growing market segment and Volvo Cars is a leader in this transition.' Back in 2021, the company revealed that all its models would be electric by the end of the decade. However, it has pushed back this goal, citing rising uncertainties due to electric vehicle (EV) tariffs in many markets. Apart from tariffs, slower European sales and the higher cost of materials have also affected several major car companies in Europe. Nissan, Ford, General Motors, Volkswagen, Tesla and Stellantis have all announced layoffs in the last few months, as car companies scramble to become more efficient and adaptive in the current uncertain economic environment.
The Citizen
28-05-2025
- Automotive
- The Citizen
Embattled Volvo slashes new car prices for a limited time
Savings of up to R271 095 offered on a wide range of XC40, C40 and XC60 electric and hybrid SUV models. The Volvo XC40 Recharge is now offered at less than a R1-million. Picture: Supplied Volvo Car South Africa recently announced its intentions of closing 12 out of its 19 local dealerships as part of a 'long-term brand strategic realignment'. Now the Swedish carmaker is slashing 15% off selected new models until 31 May where buyers can save as much as R271 095. This limited-time offer includes award-winning XC40, C40, and XC60 electric and hybrid SUVs. It includes flexible finance and added-value perks available exclusively through participating Volvo dealerships nationwide. ALSO READ: Volvo revives Cross Country name for all-electric EX30 This initiative reflects the Swedish brand's commitment to making premium, sustainable motoring more accessible. Engineered for everyday life, each model brings together thoughtful Scandinavian design, trusted safety features, and the refinement and performance expected from a Volvo. No better time to buy a Volvo 'At Volvo, we believe in creating cars that enhance the way we live, with a focus on sustainability and safety,' commented Gresham Pillay, commercial manager at Volvo Car SA. 'This 15% discount reflects our commitment to delivering value alongside cutting-edge innovation. With our electric vehicle offers, there really isn't a better time to buy a Volvo.' In addition to the 15% discount on select new models, Volvo Car SA is making electric vehicle ownership even more accessible by introducing Guaranteed Future Value (GFV) offers across its electric range. The EX30 s available from just R9 999 per month, with the GFV plan locking in a guaranteed trade-in value after 48 months. This flexible approach allows customers to upgrade, keep, or return the vehicle at the end of the term, making the switch to electric driving simpler. Added goodies for EV buyers As South Africa's best-selling electric vehicle (EV) brand in 2024, Volvo understands the importance of long-term value and affordability. Particularly for first-time EV buyers. The current GFV offers include the XC40 Recharge from R12 674 per month and the C40 Recharge from R17 158. Each offer is backed by added value including a GridCars home charger and installation up to R7 500. Plus a R12 000 public charging voucher, valid for two years and complimentary in-car data from Vodacom for three years. To qualify, vehicles must be purchased and delivered before the offer ends. Purchases can be made in cash or financed through Volvo Car Finance or any other financial institution. The offer applies only to qualifying model variants and excludes accessories or additional value-added products. Discounted pricing Original price in brackets followed by the discounted price:
NZ Autocar
17-05-2025
- Automotive
- NZ Autocar
Long-range PHEVs like Volvo XC 70 are trending
Cars such as the new XC70 could be key in countries with less EV infrastructure, according to Volvo boss, Håkan Samuelsson. New Volvo XC70 is an SUV where the former model was a raised estate. The XC70 sits between XC60 and XC90 and uses a new range-extender platform. The new model was previewed last week as a mid-sized PHEV. It has a claimed electric range of almost 200km, far more than any PHEV the brand sells at present. XC70 uses a platform supplied by owner Geely, and is initially for China only. However, Volvo said it is considering a global launch for the medium SUV. In regions where charging options aren't so comprehensive, a long-range hybrid makes sense. Read our review of the Volvo EX30 Twin-Motor Performance here. Most XC70 running will be done with electricity. So it is a long-range plug-in hybrid, Samuelsson says. An electric car with a back-up engine when the battery is flat, which will not happen often. 'It's a pragmatic bridge solution to wait for our customers to really feel comfortable with an all-electric car.' Technical details remain sparse, but Volvo has promised an electric range of up to 200km, more than double what the XC60 PHEV can achieve. XC70 is barely larger than the XC60 and resembles a shrunken XC90. However, it uses different architecture. The Scalable Modular Architecture (SMA) is said to underpin the vehicle with no details available. Volvo XC70 taillights recognisably Volvo in shape. While fellow Geely brands use combustion engines as a generator to top up a traction battery, Volvo's XC70 is a more conventional PHEV. It follows the recent unveiling of Volkswagen's ID Era REx concept at the Shanghai motor show. That like-sized car was engineered in partnership with SAIC to target the growing demand for REx cars in China. It too may go global, with particular relevance in Europe and North America. The XC70 will be key to Volvo which is on a global cost-cutting drive in what it sees as a challenging environment. With 200km of EV range, charging should be a weekly affair. That said, Volvo is committed to becoming a fully electric car company, even if just 20 per cent of its sales in the first quarter of 2025 were electric. Premium plug-in hybrids are seen as ideal for customers not yet ready to switch to a fully electric vehicle. The XC70 name hasn't been heard of since 2016, when it was applied to an off-road version of the V70 estate.
