Volvo Car Malaysia sold 1,953 cars in 2024 – EVs account for 30% of sales, up 18% compared to 2023

Volvo Car Malaysia (VCM) has announced that it sold 1,953 vehicles last year, which is less than what was recorded in the preceding year. According to the company, 2024 saw battery electric (BEV) and plug-in hybrid (PHEV) models make up 83% of total retail sales, which is an improvement from 71% in 2023.

At present, every Volvo model sold in Malaysia is electrified in some manner, be it a mild hybrid (MHEV), BEV or PHEV. MHEV models include the XC40, XC60 and XC90, which made up less than a fifth (20%) of the full-year sales mix, down from a third (33%) in 2023.

While MHEV sales declined, BEV sales ramped up in 2024. According to VCM, BEVs accounted for 30% of total retail sales in 2024, which represents an increase of 18% compared to 2023. The local Volvo BEV line-up includes the XC40 Recharge Pure Electric, C40 Recharge and EX30, with the EX90 set to arrive this year.

“While last year was a much more competitive environment for the industry, we are pleased to continue driving our vision of personal, safe and sustainable mobility with the introduction of the new, fully electric Volvo EX30 that was well received locally – our first batch of fully imported units sold out before local assembly commenced. We now have a focused portfolio of fully electric vehicles for Malaysia with our flagship seven-seater Volvo EX90 coming next,” said Chris Tan, sales director of Volvo Car Malaysia.

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