Over 8 in 10 Volvos sold locally meanwhile in 2024 featured a charging port (PHEV & BEV).
Volvo Car Malaysia has recently announced that it has achieved a significant milestone in its electrification journey, as battery electric vehicles (BEVs) accounted for a whopping 30% of total retail sales in 2024, marking an 18% increase from 2023. The company’s combined sales of BEVs and plug-in hybrid vehicles (PHEVs) meanwhile reached an impressive 83 percent of total retail sales, meaning that 8 in every 10 Volvos sold locally last year came with a charge port on its flank!
This remarkable achievement aligns with Volvo’s global sustainability goals, which is targeting 90-100% of sales to come from ‘electrified’ vehicles by then. It is nevertheless worth highlighting that much like the rest of the industry, the Swedish automaker has since ditched its bold fully-electric portfolio ambitions by 2030.
Of the 1,953 cars sold by Volvo Car Malaysia in 2024, mild-hybrid electric vehicles (MHEVs) represented less than 20% of total sales, a significant decrease from the previous year’s one-third share. The introduction of the EX30 compact crossover in September last year contributed to the automaker’s local EV sales success, with the initial batch of imported units (from China) selling out before local assembly began earlier this year.
Chris Tan, Sales Director of Volvo Car Malaysia, highlighted the company’s progress in advancing personal, safe, and sustainable mobility despite a more competitive market environment. The company has since also teased it is to further expand its local EV lineup in the upcoming months too, with the imminent introduction of the flagship EX90 full-sized 7-seat SUV over here.
The local sales achievements from Volvo Car Malaysia in 2024 mirror the automaker’s success globally, with worldwide sales for the Swedish marque reaching a record 763,389 units last year, an 8% increase from 2023. Global electrified vehicle sales saw substantial growth, with BEV sales reaching 175,194 units (up 54%) and PHEV sales hitting 177,593 units (up 16%). Electrified vehicles now represent 46% of Volvo’s global sales, with BEVs alone accounting for 23%, up from 16% in 2023.
Looking ahead, Volvo is set to launch 5 new models this year alone, with one of them being the recently revealed EX30 Cross Country. The automaker is on track to unveil plans to enhance user experience across its existing lineup too, by implementing a new interface for all cars built since 2020 that feature an Android operating system.
