Volvo's 2024 annual report reveals its challenges in the Chinese market

Volvo Car Corporation's recently released 2024 annual report shows that Volvo has achieved a total revenue of approximately 400 billion Swedish kronor (about 270 billion yuan) worldwide, of which pure electric models account for only 23%. However, in the Chinese market, Volvo's sales volume was 156,400 vehicles, a year-on-year decrease of 8%, and the sales volume of new energy vehicles was only 15,800 vehicles, less than 10% of its total sales volume in China.