Volvo Car Malaysia sets new record for BEV sales

KUALA LUMPUR: Volvo Car Malaysia concluded 2024 with a new sales mix record for its fully electric (BEV) segment which made up 30% of total retail sales (18% jump compared to 2023).

Volvo Car Malaysia’s BEV and plug-in hybrid (PHEV) models made up 83% of total retail sales for 2024 (compared to 71% in 2023).

Currently, customers in Malaysia can choose between PHEV or mild-hybrid electric vehicle (MHEV) powertrains for models with an internal combustion engine.

In 2024, Volvo Car Malaysia sold 1,953 cars of which MHEV models made up less than a fifth of the full-year sales mix.

The previous year, MHEVs represented a third of the company’s annual sales.

Volvo Car Malaysia sales director Chris Tan 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.”

The upcoming Volvo EX90 is the company’s largest all-electric SUV and incorporates Volvo Cars’ most advanced safety technology to date such as lidar, core computing, and occupant monitoring for drivers and passengers.

Full electrification remains a key pillar of Volvo Cars’ product strategy with five fully electric cars launched globally and another five models planned for future production.

This year, the company will roll out a new user interface for all Volvo cars built as early as 2020 with an Android operating system.