Volvo Cars Malaysia records a y-o-y growth of 43% in 2022

KUALA LUMPUR: Volvo is one of those automakers which are playing a crucial role in the growth of the electric vehicle segment in Malaysia. The Swedish car brand offers the two locally-assembled luxury EVs in the country viz. XC40 Recharge and C40 Recharge and also in planning to bring its safest car ever, the EX90, to our shores. Well, here we have the Volvo sales report for 2022 revealing that the company sold a total of 3,194 cars last year.

Compared to 2021, the brand’s sales saw a jump of 43%, marking the seventh consecutive year of growth in sales in Malaysia. According to the company, the credit for the hike goes to pure EVs. The C40 Recharge, which recently went on sale, bagged more than 100 orders in just 10 days of the launch.

Also read: All-new Volvo C40 Recharge: Buyer’s guide

Volvo Car Malaysia Managing Director, Charles Frump said, “The launches of our first two locally assembled electric vehicles have been the catalysts of our sales growth. With an increased market share of our fully electric vehicles globally, we are optimistic the same will apply in Malaysia.”

“In ending a successful 2022, we are excited to drive an all-electric future as we reinforce our commitment to offer Malaysians freedom to move in a personal, sustainable and safe way,” added Frump.

Volvo global sales report 2022

The Sweden-based automaker sold a total of 615,121 units globally in 2022 with the strong demand of the overall Recharge line-up. The fully-electric models accounted for 20.1% of total sales in the month of December and together with the PHEV trims, the whole Rechange range chipped in 43.8% to the overall sales in the same month.

Not to forget, the luxury brand is committed to becoming a fully electric vehicle company by 2030 with an aim to grab 75% of the sales from their Recharge Pure Electric lineup by 2025 in Malaysia.

Also read: Volvo joins “Accelerating to Zero Coalition” to boost industry’s transition to full electrification