Volvo Cars' sales volumes drop 7% in November-January period in challenging market

Sweden-based Volvo Cars VOLCARb.ST sold 177,830 cars in the November-January period, down 7% from the same period a year earlier, it said on Wednesday.

Volvo Cars, which is majority-owned by China's Geely Holding, said in a statement sales volumes for fully electric models rose 13% to account for 24% of all cars sold in the period.

Meanwhile, sales of electrified cars as a whole, also including plug-in hybrids, were down 2%.

"Sales figures from the past three months highlight a challenging market across regions with continued pricing and competitive pressures, further worsened by unfavourable regulatory developments in the U.S.," Volvo Cars said.

Shares in the company, which is due to publish its earnings report for 2025 on Thursday. were up 1.5% in early trade.

In the full year 2025, sales volumes dropped 7%.

-Reporting by Louise Rasmussen, editing by Anna Ringstrom/Reuters