The automaker’s full-year revenue surpassed Skr400bn for the first time, driven by record sales of 763,389 vehicles.

Volvo Cars warned on Thursday that 2025 would be a tumultuous and competitive year during which it might struggle to match its 2024 sales performance and profitability, sending its shares down 9.2%.

We’re preparing ourselves to see whether we need to start looking at production relocation or or even supplier relocation,” Volvo Cars CEO Jim Rowan told CNBC.

Volvo Cars' sales fell by 5% year-on-year in January to 50,820 cars, the Sweden-based automaker said on Tuesday, adding that the decrease was largely due to the timing of the Chinese New Year.