Volvo Car Malaysia’s BEV sales hit a new high in 2024

KUALA LUMPUR: Volvo Car Malaysia sold a total of 1,953 cars in 2024. While the figure is lower than what the Swedish automaker achieved last year, the company set a record in terms of BEV sales.

The pure EVs accounted for up to 30% of the brand’s total retail sales, representing an increase of 18% compared to 2023. However, pure EVs and PHEVs combinedly accounted for 83%, which marks an improvement of 71% compared to the previous year. 

The growing percentages underline the rising preference for electrified luxury cars among Malaysian consumers. It will help Volvo in achieving its global ambition to sell between 90 to 100 percent of ‘electrified’ cars by 2030, defined by models with a plug-in, high-voltage battery drivetrain.

Chris Tan, Sales Director of Volvo Car Malaysia, said, “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.”

Also read: Review: 2024 Volvo EX30 Ultra Twin Performance - Tiny body, big attitude – your next EV crush?

Volvo’s Global Sales 2024 

Total Global Sales	763,389 units (representing a year-on-year hike of 8%)
BEV Sales	175,194 units (representing a year-on-year hike of 54%)
PHEV Sales	177,593 units (representing a year-on-year hike of 16%)

The electrified vehicles accounted for 46% of total sales, however, the BEVs alone enjoyed a 23% share, up from 16% in 2023.

Looking ahead

As full electrification remains a key pillar of the brand’s product strategy, Volvo has launched five pure EVs globally so far, with another five models in the pipeline. In 2025, the automaker will also introduce a new user interface for all models (2020 onwards) with Android OS, enhancing user experience.

Also read: Volvo Car Malaysia to host ‘A-moose-ment’ event next month