Volvo Car Malaysia's surge in EV sales sparks new era, but PHEV sales still dominates

2023 was quite the pivotal year for Volvo Car Malaysia, with a noticeable shift towards electric vehicles. They saw their fully electric (BEV) sales jump to 18% of total sales, which is a decent 37% uptick from the previous year. It looks like their Recharge lineup, which includes both BEVs and plug-in hybrids (PHEV), really dominated their sales, making up a solid 71% of their total retail sales for the year.

Comparing this to the global scene, Volvo Car Malaysia stood out as it was among the top 15 markets globally in the Volvo Car Group. The worldwide average for Recharge variants was around 38% in 2023, so they're not far off the mark.

Now, the total sales figures for 2023 were a bit lower than 2022, with 2,694 cars sold compared to 3,194 the year before. But remember, 2022 was kind of a bumper year for the auto industry, bouncing back from COVID-19 with various government incentives to boost the economy. So, a slight drop isn't that surprising, especially since they were in a transitional phase with no new launches in 2023.

Charles Frump, the managing director of Volvo Car Malaysia, called 2023 a transformative year, focusing on a fully electric future. They've moved all their fully electric models to an online sales platform, aiming for a smooth, transparent buying experience. Despite the drop in sales, they've managed to hold their ground in their market segment.

Looking ahead, Volvo Car Malaysia seems pretty optimistic about 2024, expecting growth with new electric models in the pipeline. They're firmly on track with their goal to become a fully electric premium car company by 2030.

On the global front, Volvo Cars had a record-breaking year in 2023, with total sales reaching 708,716 cars, marking a 15% increase from 2022. This success is attributed to their strong electrified portfolio and a more stable supply chain. The global sales of their fully electric cars soared by 70%, showing a significant shift towards electrification.

So, it's clear that Volvo Car Malaysia is mirroring the global trend, gearing up for a future dominated by electric vehicles.

What was the last car VCM launched?

Volvo Malaysia marked a significant milestone at the end of 2022 by launching the C40 Pure Electric, a move that further solidified their commitment to an electrified future. The launch represented a key step in their journey towards sustainability and innovation in the automotive industry.

The C40 Pure Electric, known for its sleek design and cutting-edge technology, exemplifies Volvo's dedication to combining luxury with environmental responsibility. This model, showcasing the latest in electric vehicle technology, highlights Volvo Malaysia's drive to lead the market in eco-friendly transportation solutions. As the latest addition to their electric lineup, the C40 Pure Electric stands as a testament to Volvo Malaysia's ongoing efforts to provide advanced, sustainable vehicle options to their customers.

What vehicle will Volvo Car Malaysia launch in 2024?

So, the buzz is that the EX90 is expected to hit Malaysian shores around the end of 2024, but this has changed recently due to some delays in the EX90's production, due to buggy software.

Instead, Charles Frump, the managing director of Volvo Car Malaysia, hinted at exciting developments for the Malaysian market, as he revealed that the all-electric Volvo EX30 is scheduled to make its debut in Malaysia this year, preceding the launch of the much-anticipated EX90 flagship SUV.

The Volvo EX30 is a compact, fully electric SUV positioned as an entry-level model in Volvo's lineup, making it an attractive option for those new to the brand or to electric vehicles in general.The model is available in either rear-wheel drive or all-wheel drive, with the fastest version capable of accelerating from 0 to 100 km/h in just 3.6 seconds.

Also Read: Say bye-bye to the Volvo S90 because the ES90 has arrived