Volvo updated its year-end sales forecast downwards due to the decrease in demand for electric vehicles.
Volvo Cars, which completed 2023 with the highest global sales figures of all time, also showed a significant increase in electric vehicle sales.
Volvo Cars managed to close the year 2023 with a record, selling a total of 708 thousand 716 cars.
In fact, 2024 has been quite successful for the company so far.
Volvo, which experienced a serious sales boom with the impact of the EX30, updated its year-end expectations downwards despite this situation.
Although the EX30 is currently the 3rd best-selling electric model in the EU, electric vehicle sales continue to decline worldwide.
In addition, the European Union Commission's new "China tax" will also deal a heavy blow to Volvo.
Volvo, a member of the Chinese Geely brand, carries out some of its production in China.
This means that the brand's models coming to Europe will be subject to an additional 37.6 percent tax.
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