Volvo records 3% sales growth in August 2024, EVs leading the charge

Volvo records 3% sales growth in August 2024, EVs leading the charge

KUALA LUMPUR: Founded in 1927, Volvo is one of the most well-known car brands in the world with an extensive sales network in more than 100 nations. The Swedish automaker recently revealed its global sales numbers for August 2024. During the month, Volvo delivered a total of 52,944 cars across the globe, representing a 3% increase over the same period last year.

KEY TAKEAWAYS

  • Which is the best-selling Volvo car?

    In August 2024, the Volvo XC60 was the best-selling model with 14,723 units sold.
  • When will the Volvo EX30 launch in Malaysia?

    The five-seater Volvo EX30 will launch on September 25, 2024 in Malaysia.
  • Looking at the YTD performance, the automaker sold a total of 498,464 vehicles in the first eight months of 2024. This represents an impressive 11% increase compared to the same period in 2023, signalling a strong and consistent demand for Volvo cars.

    Volvo cars

    The credit for the increasing sales volume goes to the strong performance of the brand’s fully electric cars in Europe. Volvo EVs have continued to gain traction among European consumers, which reflects the growing demand for sustainable mobility options in the region.

    The sales of Volvo electric and plug-in hybrid models increased by 47% compared to last year. These models played a significant role in the brand’s overall sales performance in August, accounting for 47% of all vehicles sold. However, if we look at pure EVs, they accounted for 25% of these sales.

    Volvo cars

    “It is good to see that we were able to close out August with continued sales growth. We have a robust brand, and we continue to see solid consumer interest across our lineup,” said Björn Annwall, chief commercial officer and deputy CEO at Volvo Cars. “The performance in Europe was particularly encouraging, as the sales of our EVs continue to grow at a rapid pace, with the EX30 leading the way.”

    Volvo sales across major markets

    Europe: As mentioned above, Europe is Volvo’s top-performing market with a total sales volume of 21,119 units last month. It showcases a 32% growth over the same month last year. The fully electric and plug-in hybrid models made up 73% of all Volvo cars sold during the month.

    US: In the United sales, Volvo's sales took a slight dip of 2% in August, with a total sales of 10,420 vehicles. Despite the overall drop, the company experienced a significant rise in the demand for plug-in hybrid models, which saw an 84% jump in sales compared to August 2023. 

    China: Volvo is facing a challenging time in the Chinese market, with sales dropping by 23% to 12,185 units. However, the demand for electrified models in the region remained promising, as sales of electrified vehicles grew by 10%.

    Volvo XC60

    Top-selling Volvo models 

    The brand’s top-selling models are - 

    Volvo XC60

    14,723 cars (2023: 16,476)

    Volvo XC40/EX40

    10,668 cars (2023: 13,942) 

    Volvo EX30

    8,346 cars (2023: 0)

    The above table reveals that the brand’s new EV, the Volvo EX30, has quickly gained traction in the market, despite being a newcomer. It signals a positive shift towards electrification in the automotive industry.

    Volvo EX30

    Closer to home, Volvo Cars Malaysia will bring the EX30 to the local shores later this month. It is the brand’s smallest SUV packed with a range of smart technologies and advanced safety features. 

    The EV comes in single and dual-motor setups; the former delivers a maximum power of 272 PS and a peak torque of 343 Nm while the latter is good for making 428 PS and 543 Nm. Equipped with either a 51 kWh LFP or a 69 kWh NMC battery pack, the EV offers a driving range of up to 480 km.

    Will the highly-anticipated Volvo EX30 make a splash in the Malaysian market? What do you think?

    Also read: Volvo ES90 EV global debut next year; EX60 also in the works

    Sippi Vig

    Sippi Vig

    Sippi is a versatile writer and specializes in crafting both blog articles and site content for the automotive industry. Her strong analytical skills help in curating articles backed with stong number analysis for our audience. She enjoys reviewing the latest cars/models and describing new technologies. She holds a master of business administration degree in finance and marketing. When she’s not working, she enjoys travel, adventure, reading, and gardening.

    Read Full Bio

    Sell your car at the best price

    Verified and genuine buyers Verified and genuine buyers
    Free listing Free listing
    List your car

    Volvo Car Models

    • Volvo XC40
      Volvo XC40
    • Volvo XC90
      Volvo XC90
    • Volvo XC60
      Volvo XC60
    • Volvo C40 Recharge ev
      Volvo C40 Recharge
    • Volvo S60
      Volvo S60
    • Volvo XC40 Recharge ev
      Volvo XC40 Recharge
    • Volvo V60
      Volvo V60
    • Volvo S90
      Volvo S90
    • Volvo EX30 ev
      Volvo EX30
    Volvo Cars Price

    Don't Miss

    You might also be interested in

    • News
    • Featured Stories
    • Upcoming
    • Volvo XC90 2024 hev
      Volvo XC90 2024
      Price coming soon
      Expected Launch Dec, 2024 Alert Me When Launched
    • Volvo EX90 ev
      Volvo EX90
      RM 250,500 Expected Price Kuala Lumpur
      Expected Launch Dec, 2024 Alert Me When Launched

    Compare & Recommended

    Volvo EX30 ev
    Volvo EX30
    RM 188,888 - 228,888
    Volvo EX30 Price
    Renault Koleos
    Renault Koleos
    RM 191,888 - 218,688
    Koleos Price
    Peugeot 3008
    Mazda CX-8
    Mazda CX-8
    RM 184,000 - 220,000
    Mazda CX-8 Price
    Haval H9
    Haval H9
    RM 185,000
    Haval H9 Price
    Seating Capacity 5
    5
    5
    7
    7
    Power 272
    169
    165
    192
    241
    Transmission Type Automatic
    CVT
    Automatic
    Automatic
    Automatic
    Engine -
    2488
    1598
    2488
    1998
    Compare Now

    Trending SUV

    • Upcoming
    • Proton e.MAS 7 ev
      Proton e.MAS 7
      Price coming soon
      Expected Launch Dec, 2024 Alert Me When Launched
    • Toyota Yaris Cross
      Toyota Yaris Cross
      RM 130,400 Expected Price Kuala Lumpur
      Expected Launch Dec, 2024 Alert Me When Launched
    • Chery Tiggo 8 Pro PHEV phev
      Chery Tiggo 8 Pro PHEV
      Price coming soon
      Expected Launch Dec, 2024 Alert Me When Launched
    • Kia EV3 ev
      Kia EV3
      Price coming soon
      Expected Launch Dec, 2024 Alert Me When Launched
    • Chery Tiggo 9 PHEV phev
      Chery Tiggo 9 PHEV
      Price coming soon
      Expected Launch Dec, 2024 Alert Me When Launched
    • JAECOO J6 ev
      JAECOO J6
      Price coming soon
      Expected Launch Dec, 2024 Alert Me When Launched
    Upcoming SUV Cars

    Compare

    You can add 3 variants maximum*