Volvo Car Malaysia saw a huge increase from 18% in 2023 to 30% BEV sales in 2024
Volvo Car Malaysia concluded the 2024 calendar year with a major achievement in its electrification journey, marking a record sales mix for its fully electric vehicles (BEVs). BEVs accounted for 30 percent of total retail sales, reflecting an 18 percent increase compared to 2023.
In addition, Volvo Car Malaysia’s combined sales of BEVs and plug-in hybrid electric vehicles (PHEVs) represented 83 percent of total sales in 2024, a significant rise from 71 percent the previous year. This milestone supports Volvo Cars’ global sustainability goal of selling between 90 and 100 percent ‘electrified’ vehicles by 2030, including plug-in hybrid, BEV, and high-voltage battery-powered drivetrains.
Moreover, since 2020, Volvo Car Malaysia has been at the forefront of electrification, offering only fully electric or hybrid electric variants of all new models sold. This commitment has helped position Volvo as a leader in Malaysia’s green car market. The company’s lineup currently includes PHEV and mild-hybrid electric vehicle (MHEV) powertrains for models that still feature internal combustion engines, catering to a wide range of consumer preferences.
In 2024, Volvo Car Malaysia sold 1,953 vehicles, with MHEV models accounting for less than 20 percent of the full-year sales mix, a noticeable decrease from the previous year when MHEVs represented a third of sales. This trend reflects the growing consumer demand for more sustainable vehicle options.
The Volvo EX90, the company’s largest all-electric SUV, is also set to debut as the brand’s flagship model. The EX90 will feature Volvo Cars’ most advanced safety technology to date, including lidar, core computing, and occupant monitoring for enhanced safety.
On top of that, in addition to its strong sales performance, Volvo Car Malaysia expanded its customer experience offerings in 2024, hosting exclusive events such as hands-on driving experiences of the EX30, the inaugural Volvo Safety Driving Experience, and the Volvo Padel Open.
On a global scale, Volvo Cars achieved a new sales record in 2024, with 763,389 cars sold, marking an 8 percent increase compared to the previous year. Electrified vehicles made up a significant portion of the sales, with BEVs and PHEVs accounting for 46 percent of total sales.
The company plans to continue expanding its electrified vehicle portfolio, launching five fully electric models globally, with another five scheduled for production in the near future. Additionally, Volvo Cars will introduce a new user interface for all models with Android operating systems, enhancing the driving experience for future customers.
