Written by Cláudio Afonso | LinkedIn | X
Volvo Cars reported on Tuesday that it sold 763,389 vehicles in 2024, marking an 8% increase compared to the previous year. The growth was fueled by strong demand in Europe, where sales rose by 25% to 369,685 units, accounting for nearly half of the company’s total sales.
This surge allowed the carmaker to offset declines in the U.S. and China, where sales fell by 3% and 8%, respectively.
Volvo Cars sold more than 175,000 battery-electric vehicles (BEVs) in 2024, representing a 54% year-over-year increase. Plug-in hybrid (PHEV) sales also grew by 16% to 177,593 units, bringing the total sales of new energy vehicles—both BEVs and PHEVs—to 46% of all Volvo cars sold globally during the year.
Fully electric vehicles accounted for 23% of the company’s global sales in 2024, a significant rise from 16% in 2023, underscoring the company’s ongoing transition toward electrification.
In Europe, electrified models (or NEV) represented 65% of the 369,685 cars sold in the region during last year. In the U.S., Volvo sold 125,243 vehicles in 2024, down 3% from the prior year, while sales in China declined 8% to 156,370 units.
In December 2024, Volvo Cars sold 73,804 vehicles globally, a 3% decline compared to the same month in 2023.
Written by Cláudio Afonso | LinkedIn | X
