Volvo Cars said on Monday that its global sales fell 11% in April to 58,881 vehicles.
The decline was led by a 32% drop in sales of fully electric models, according to company data. As of April 30, year-to-date sales of electric vehicles had fallen 20% to 44,146 units.
After selling fewer than 10,000 fully electric vehicles per month from October through February, the company has now recorded two consecutive months above that threshold.
Among fully electric, plug-in hybrid, mild hybrid, and internal combustion engine vehicles, only plug-in hybrid sales rose in April from a year earlier, increasing by 2%.
Unlike in recent months, the company did not provide a regional breakdown of sales, making it unclear which markets contributed most to the decline.
In late April, Volvo started producing its smallest SUV, the EX30, at its plant in Ghent, Belgium. Volvo Cars now produces 10 electric and hybrid models across its plants in Ghent, Belgium, and Torslanda, Sweden.
Twenty four hours earlier, the company announced Fredrik Hansson as its new chief financial officer. The executive was previously serving as the Head of Global Controlling and Performance Steering. In 2023, he was appointed Deputy CFO and a member of the Group Management team.
CEO Jim Rowan stepped down last month after nearly three years in the role. He was succeeded by former executive Håkan Samuelsson, who will serve as CEO for the next two years.
Last year, the company abandoned its target of selling only BEVs by the end of the decade. The automaker had been one of the first automakers to promise a fully electric portfolio by 2030.
In 2024, the company sold 763,389 vehicles, an increase of 8% compared to the previous year.
The growth was mainly fueled by stronger demand in Europe, where sales rose by 25% to 369,685 units, accounting for nearly half of the company’s total sales.
