Volvo Car Malaysia Shifted 1,953 Units In 2024

Volvo Car Malaysia (VCM) capped 2024 off by recording a total sales of 1,953 units. Notably, mild-hybrid (MHEV) models now account for less than one-fifth of said total.

Volvo Car Malaysia (VCM) revealed via press release issued today that it shifted a total of 1,9523 units throughout 2024. From which, the marque’s mild-hybrid (MHEV)-powered models account for less than one-fifth of its full-year sales mix – MHEVs stood for one-third of VCM’s 2023 sales prior.

Instead, the bulk of its 2024 sales are now charged by its plug-in hybrid (PHEV) and fully-electric (BEV) models. Combined, these now make up 83% of the brand’s total sales in 2024, marking an 18%-year-on-year (YoY) increase from just 71% in 2023.

The feat marks a milestone for VCM as it aligns with the marque’s wider global sustainability ambitions of selling 90% to 100% ‘electrified’ cars by 2030 – specifically, the defines this as cars with a plug-in, high-voltage battery drivetrain.

Instead, VCM's 2024 sales were charged by both its plug-in hybrid (PHEV) and fully-electric (BEV) models which, combined, account for 83% of its sales total.

“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,” expressed Chris Tan, Sales Director of VCM.

On the subject of BEVs, these accounted for roughly 30% of VCM’s 2024 sales, surpassing the Swedish marque’s global benchmark of 23%. Key to this was of course the launch of the Volvo EX30 premium compact EV crossover back in Sept 2024.

Initially, the EX30 was launched as a fully imported (CBU) offering with three variants priced from RM188,888. Tan adds that this initial batch of CBU models was well received and saw its first batch sell-out completely before local assembly (CKD) commended.

BEV models alone, on the other hand, account for roughly 30% of VCM's 2024 sales total. Leading things here is its latest EX30 offering, which was just streamlined recently after its induction into the firm's local assembly (CKD) efforts.

The CKD model mentioned came just last month, and it also prompted VCM to streamline the EX30’s line-up to just two variants now priced from RM208,888. “We now have a focused portfolio of fully electric vehicles for Malaysia with our flagship seven-seater Volvo EX90 coming next,” adds Tan.

The new generation EX90, revealed globally in late 2022, is expected to make landfall locally sometime in the second half of this year. Whilst this all-electric flagship is confirmed, what remains unconfirmed is if it will arrive with its XC90 PHEV twin alongside it.

Revealed globally in Sept 2024, the XC90 was given a heavy makeover inside and out, and it’s has since gone on sale across Europe. Given VCM’s strong lean on PHEVs and BEVs now, we reckon the new XC90 noted could also arrive locally sometime this year as well.

This year, VCM is poised to welcome its new and all-electric EX90 flaghsip SUV (left), though no word yet if its heavily revised XC90 PHEV twin (right) will also make landfall locally just yet.

Local front aside, VCM also conveyed figures from Volvo Car’s 2024 global sales performance. The marque shifted 763,389 units worldwide in 2024, marking an 8% YoY increase from 2023. Additionally, electrified models accounted for 46% of which, up by a sizeable 23% YoY versus just 16% in 2023.

Besides that, the marque is also set to roll out a new user interface for all Volvo cars built as early as 2020 primed with an Android operating system. This, according to the marque, will bring the user experience on board these models closer to its new generation of fully electric cars.