Volvo set a new sales record in 2024 for the second year running – but boss Jim Rowan has warned that both the company and the car industry will be “severely tested” in 2025.
The Swedish firm sold 763,389 cars last year, a rise of 7.7% on its previous record total in 2023. That also helped Volvo set a new high in revenue and operating profit.
But while the company recorded double-digit growth in sales volume in the first half of last year, sales slowed down in the final six months due to slowing demand.
