Volvo
Compare Volvo…Manufactures and sells premium automobiles focused on safety and sustainability under the Volvo brand worldwide.
SectorsElectric Vehicles
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VolvoManufactures and sells premium automobiles focused on safety and sustainability under the Volvo brand worldwide.
2021-2025
2024-2025
Total: 710.0K vehicles
2022-2025
| Region (FY2025 total, YoY) | BEV trend YoY | PHEV trend YoY | What is driving it |
|---|---|---|---|
| United States (121,607 cars, -3%) | +91% (5,608 to 10,708 units) | -40% (37,294 to 22,379 units) | BEV surge from EX30 US launch + EX90 ramp; PHEV slump as buyers and the late-2025 removal of federal EV incentives reshaped the lineup mix |
| China (149,549 cars, -4%) | -46% | +116% | Local-brand NEV price war crushed Volvo's premium BEV pricing; demand pivoted hard to plug-in hybrids, matching the wider China market shift toward PHEV/EREV |
| Europe (332,667 cars, -10%) | -22% | -3% | Largest region and the biggest drag: subsidy rollbacks, pricing pressure, and a soft premium market pulled both plug-in powertrains down |
| Group total (710,042 cars, -7%) | -13% (175,194 to 151,830) | -3% (177,593 to 171,464) | Regional offsets netted to a modest electrified decline; combined BEV+PHEV down 8% to 323,294 units, 45.5% of all deliveries |
| Metric | FY2025 | Note |
|---|---|---|
| Retail deliveries | 710,042 cars (-7% YoY) | Down from a record 763,389 in 2024 |
| Adjusted operating income (EBIT) | SEK 12.5 billion | Adjusted figure; management's headline profit measure |
| Adjusted EBIT margin | 3.5% | Well below the stated long-term ambition of over 8% |
| Free cash flow | SEK 2.4 billion | Positive but slim; reflects the cash action plan |
| Cost and cash action plan | SEK 18 billion | Established a new, lower cost base during 2025 |
| Key external headwinds | EU-US tariffs, stronger SEK, US EV-incentive removal, pricing pressure | Cited as the main drags on Q4 and FY revenue |
| Long-term EBIT margin ambition | Over 8% | Target margin the 3.5% result is being measured against |