Volvo hits new sales high

Volvo Cars set a new global sales record last year after selling 763,389 units in 2024, an increase of eight per cent when compared with 708,716 it recorded during the year prior.

The increase included a significant rise in sales of its electrified cars, which climbed 54 per cent year-on-year to 175,194 for fully electric models and 16 per cent to 177,593 for plug-in hybrids. 

Electrified models accounted for 46 per cent of all Volvo cars sold globally last year, with the portion of battery electric vehicles (BEVs) coming in at 23 per cent compared with 16 per cent in 2023. 

The Volvo XC60 was the marque’s top-selling model in 2024 after notching 230,853 sales, followed by the XC40/EX40 on 173,890 and the XC90 with 108,621.

A breakdown of the company’s figures by different markets shows its European sales soared 25 per cent to 369,685 cars, with electrified models accounting for 65 per cent.

Registrations in the US dropped three per cent to 125,243, with BEVs and PHEVs claiming a 34 per cent share of the total.

Sales in China fell eight per cent over the same period to 156,370  and demand for its electrified models grew three per cent.

For the month of December alone, Volvo Cars completed 73,804 sales worldwide, a decrease of 3 per cent compared with the same month in 2023.