American Invest Hub
  • Politics
  • Investing
  • Business
  • Latest News

American Invest Hub

  • Politics
  • Investing
  • Business
  • Latest News
Business

Volvo’s December sales dip, while electric vehicle demand surges

by admin January 7, 2025
January 7, 2025
Volvo’s December sales dip, while electric vehicle demand surges

Volvo Cars experienced a 3% year-on-year decline in sales during December, with 73,804 cars sold, as the market for hybrid vehicles showed signs of cooling.

However, this dip was juxtaposed with a substantial 20% year-on-year increase in the sales of electrified vehicles, encompassing both fully electric and plug-in hybrid models.

This data reveals a significant shift in consumer preference toward cleaner, battery-powered vehicles.

Electrification gains momentum while traditional hybrids lag

While electrified car sales saw a significant boost, the sales of so-called mild hybrids, which rely solely on internal combustion engines, fell by 16%, according to the Sweden-based automaker’s statement.

This underscores the ongoing transition away from traditional combustion engine vehicles and towards more eco-friendly alternatives.

The rise in electrified vehicle sales demonstrates a clear trend within the automotive industry, as consumers increasingly opt for more sustainable options.

Strong full-year performance driven by EV sales

Despite the December sales dip, Volvo Cars, which is majority-owned by China’s Geely Holding, reported that its total sales for 2024 rose by 8% compared to 2023, reaching a total of 763,389 cars.

This overall increase was largely attributed to a remarkable 54% rise in the number of fully electric models sold throughout the year.

This surge in EV sales indicates the success of Volvo’s strategy to embrace the electric vehicle market, which is increasingly becoming a focus for all major car manufacturers globally.

Electric vehicles account for nearly a quarter of total sales

Sales of Volvo’s fully electric cars accounted for 23% of all Volvo cars sold globally during 2024, a substantial increase from the 16% recorded in 2023, the company stated.

This significant increase demonstrates the growing importance of electric vehicles within Volvo’s product lineup, and highlights their rising popularity among consumers.

The company’s stock responded positively to the news, rising 1.8% by 0819 GMT, exceeding a 0.9% rise in Stockholm’s benchmark index.

The post Volvo’s December sales dip, while electric vehicle demand surges appeared first on Invezz

0
FacebookTwitterGoogle +Pinterest
previous post
Microsoft commits $3 billion to expand AI and Cloud capabilities in India
next post
Chinese tycoon’s $1B fraud: why was his chief of staff sentenced to 10 years?

Related Posts

Collapse of fintech firm with 10M users leaves...

May 25, 2024

Roger Federer joins elite ranks of athlete billionaires

June 28, 2025

Disneyland workers reach tentative deal with company, averting...

July 25, 2024

Keanu price surges with community support, outperforming Solana’s...

November 27, 2024

‘It is time to break up Live Nation’:...

May 25, 2024

Asian markets celebrate Trump’s ceasefire call; Kospi 100...

June 24, 2025

Why is UltraTech Cement stock dropping sharply today?

February 27, 2025

A year after Silicon Valley Bank failed, another...

March 3, 2024

As LVMH extends Arnault’s reign, succession concerns still...

April 18, 2025

Top 3 ‘best-in-class’ stocks to buy on the...

March 9, 2025

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Latest News

    • How Donald Trump’s immigration crackdown may tank the labor market

      August 4, 2025
    • Trump’s tariff threat looms over India’s Russian oil deals

      August 4, 2025
    • Trump moves nuclear submarines near Russia: what triggered the move and what’s ahead

      August 3, 2025
    • BOE rate cuts offer little relief as UK households face mounting financial strain

      August 3, 2025
    • Retail investors shift focus to Europe as US valuations stretch

      August 3, 2025

    Categories

    • Business (3,583)
    • Investing (2,703)
    • Latest News (2,031)
    • Politics (1,530)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: americaninvesthub.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 americaninvesthub.com | All Rights Reserved