Скачать или смотреть Volvo's gamble on EVs is paying off... But it could bite them soon

#VOLVO #ev #phev #xc90 #xc60 #xc40

Volvo just broke another sales and revenue record. Can they keep this momentum up? Have they over-invested in EVs? Let's dive in!

The company sold 175,194 fully electric cars in 2024, an increase of 54 per cent versus 2023 and representing 23 per cent of its total global sales volume, which was the highest share among all legacy premium carmakers. Sales of fully electric and plug-in hybrid models amounted to 46 per cent of all Volvo cars sold in 2024. This strong performance enabled Volvo Cars to exceed its CO2 targets as set by the EU, giving it a surplus of EU carbon credits in 2025.

Volvo Cars had a second consecutive record-breaking year in 2024 and today reports the highest full-year retail sales, revenues and core operating profit in its 98-year history. However, the company anticipates a turbulent 2025 due to challenging market conditions.

Full-year revenues exceeded SEK 400 billion for the first time in the company’s history, due to a new all-time sales record of 763,389 cars. Its full-year core operating profit of SEK 27 billion, excluding joint ventures and associates, was another record and up 6 per cent compared to 2023. The core operating margin came in at 6.8 per cent, up from 6.4 per cent in 2023.

“2025 will be a year of transition,” said Jim Rowan. “The global car industry is facing several uncertainties: cyclical, structural, transformational and geopolitical. We have navigated this environment better and faster than many of our peers, but we and the rest of the industry will be severely tested this year. At the same time, we must keep our eyes firmly on the road ahead and not sacrifice the future on the altar of the present. In other words, we must be prudent, diligent and disciplined during a turbulent 2025, while paving the way for our long-term ambitions.”

sources:
https://www.media.volvocars.com/us/en...
https://www.media.volvocars.com/globa...


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