Volvo Cars reported a 10% YoY decline in global sales for March, totaling 70,737 vehicles, largely due to a sharp drop in sales of fully electric models. For the first quarter of 2025, the company’s global sales fell 6% YoY to 172,219 units. By region, Volvo’s sales in Europe dropped 9% in March to 36,093 vehicles, with electrified models falling 18% YoY to 20,432 units, accounting for 57% of total European sales that month. In the U.S. market, sales declined 8% YoY to 14,052 units in March, though electrified model sales rose 5% to 3,826 units. In China, March sales fell 22% YoY to 10,867 units; however, sales of electrified models in the country surged 20% to 1,243 units. Amid growing tariff pressures and market uncertainty, Volvo Cars announced on March 30 the reappointment of former CEO Håkan Samuelsson to lead the company. His two-year term began April 1. He succeeds Jim Rowan, who has served as CEO since 2022.