VOLVO Car Malaysia wraps up the 2023 calendar year with an increase in electric vehicle (EV) sales, which accounted for 18 percent of the total sales. This also represents a 37 percent increase compared to the previous year.

Out of the total sales, the Recharge model range (comprising fully electric EVs and PHEVs) accounted for 71 percent of the sales.

This percentage also places Volvo Car Malaysia in the top 15 globally, with the Recharge model sales averaging 38 percent.

Volvo Car Malaysia sold 2,694 cars in 2023, compared to 3,194 in 2022, which was a year of recovery for the automotive industry after the pandemic.

Charles Frump, Managing Director of Volvo Car Malaysia, said, “2023 marked a transformational year for us as we transitioned towards a fully electric future.

“Despite a drop in sales figures, we are proud to maintain our market share even without new launches last year.

“After seven years of growth until 2023, we anticipate continued growth in 2024 with the arrival of fully electric products,” Charles added.

On a global scale, Volvo Cars achieved a record sales figure for 2023 with 708,716 units sold, representing a 15 percent increase compared to 2022.