Volvo Car Malaysia concluded 2023 with a total of 2,694 cars sold, of which, 18% is made up of fully electric vehicles (BEV), representing an impressive 37% increase compared to 2022.
Including the plug-in hybrid (PHEV) models, the carmaker’s Recharge range of electrified vehicles now accounts for 71% of the company’s total sales across the year, placing Malaysia as one of the top 15 global markets in the Volvo Car Group.
In comparison, the global sales mix for the Recharge electrified variants is at 38% worldwide for 2023, of which 16% of all cars sold are fully electric, the company says in a press release.
That said, Volvo Car Malaysia’s 2023 sales performance did see a slight 500-unit drop compared to the previous year. The company attributes that to the 2022 “bumper year” for the automotive industry, bolstered by the government’s tax incentives post Covid-19 pandemic.
Commenting on its 2023 sales report, Volvo Car Malaysia Managing Director, Charles Frump said, “2023 was a transformative year for us as we pivoted towards a fully electric future. All of our fully electric models are now sold directly on our online sales platform for a secure, transparent and hassle-free ownership journey.”
“Despite showing a slight sales drop, we’re very proud to have defended our segment share given that we were in between product cycles with no new launches last year… We remain steadfast and aligned with our ambition to become a fully electric, premium car company by 2030 and see this reflected in our direction and performance as a global brand” he added.
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The company expects to continue its growth in 2024 with new “fully electric product launches” – plural. These should include the Volvo EX90, the fully-electric replacement for the ageing XC90, as well as the EX30, a new compact EV crossover. The latter has already made its debut in Thailand late last year.
Globally, Volvo Cars set a new sales record with 708,716 units sold in 2023, representing a 15% increase compared to 2022. The share of electrified models has also increased in 2023, by a whopping 70% for fully-electric models (113,419 units), and 10% for plug-in hybrid cars (152,561).
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