Thousands of administrative jobs plans to cut the Swedish automaker Volvo Cars in the context of austerity program. 3,000 seats are going to be lost worldwide, Chinese interests, part of the Geely Group, announced in Gothenburg. These are 15% of offices jobs, with most of them being in Sweden.

Volvo chief Hankan Samelson speaks of harsh decisions: “The automotive industry is in a difficult time.” To overcome, the costs must be reduced structurally, he said, announcing talks with trade unions. Volvo had already preceded sales of below expectations in April in the first quarter of 2025, but also for upcoming job cuts, in order to save almost 1.7 billion euros.

Volvo focused early on the manufacture of purely electric car battery (Bev: Battery Electric Vehicles). In recent years, however, it has been often confronted with the high cost of batteries.

Because sales were all but good in the first trimester and the production of electric vehicles continues with obstacles, the Swedish manufacturer now focuses more on plug-in hybrids, as they are a realistic bridge for customers who are not yet ready to take the big step in a pure electric car. In the first quarter of 2025 Volvo’s electric percentage decreased from 21% last year to 19%.

Byd surpasses Tesla in sales

Despite the small but significant recovery in the European electric car market, American Tesla failed to benefit. In April, the sales of the controversial Ilon Musk car recorded a new sales nadir. According to data from the European Union of Manufacturers, ACEA, new registrations decreased more than 50%. Overall in the first four months of 2025, Tesla was faced with sales reductions of around 46%, with just 41,677 on the EU market.

Although the EU car market remains stagnant, the electric car market is recovering vigorously after the frustrating sales of 2024. In the first four months of 2025, 15.3% of new EU registrations were electric compared to 12% of the last year. In car units the increase exceeded 25%.

Data from the Market Research Company Jato Dynamics from 28 European countries show that the Chinese colossus byd (Build your Dreams) took the lead from US Tesla with 7,231 cars in April, instead of 7,165. Despite the small lead, Jato’s analyst Felipe Munoz speaks of a “turning point” in the European car market, especially given that Tesla has been led by sales for years and BYD has recently entered.

Source: DPA