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Volvo Cars reports new global sales record in 2024

Itumeleng Garebatshabe
Last updated: January 7, 2025 11:12
By Itumeleng Garebatshabe
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Volvo Cars set a new global sales record as the company reports full-year sales of 763,389 cars during 2024, an increase of 8 per cent compared to the full year of 2023. For the month of December, Volvo Cars sold 73,804 cars globally, a decrease of 3 per cent compared to December 2023.

Volvo Cars also saw a significant increase in sales for its electrified cars. For the full year 2024, Volvo Cars sold 175,194 fully electric cars, an increase of 54 per cent compared to 2023, and 177,593 plug-in hybrid cars, a 16 per cent increase compared to 2023. Sales of electrified models accounted for 46 per cent of all Volvo cars sold globally during 2024. Sales of fully electric cars accounted for 23 per cent of all Volvo cars sold globally during 2024, compared to 16 per cent in 2023. 

European sales reached 369,685 cars during 2024, an increase of 25 per cent compared to 2023. Volvo Cars’ line-up of electrified models – fully electric and plug-in hybrid models, accounted for 65 per cent of all the cars sold in the region last year.

Volvo Cars’ US sales for 2024 amounted to 125,243 cars, down 3 per cent compared to the full year of 2023. The number of sold electrified models increased by 20 per cent and accounted for 34 per cent of all cars sold in the US during the year.

Sales in China decreased 8 per cent compared to 2023, resulting in 156,370 sold cars during 2024. Overall, sales of electrified models grew 3 per cent during the January to December period.

For 2024, the Volvo XC60 was the top-selling model with sales of 230,853 cars (2023: 228,646), followed by the XC40/EX40, with total sales of 173,890 cars (2023: 200,670) and the XC90 at 108,621 cars (2023: 107,549).

       
 DecemberDecemberJan-DecJan-Dec 
 20242023Change20242023Change
       
Europe33 48834 726-4%369 685294 79425%
Electrified Models21 39018 93313%240 425172 57539%
 – Fully electric9 5878 9207%133 07075 47676%
 – Plug-in hybrid11 80310 01318%107 35597 09911%
Mild hybrids/ICE12 09815 793-23%129 260122 2196%
       
China15 90815 9440%156 370170 091-8%
Electrified models2 5011 71546%15 76615 3563%
 – Fully electric729249193%4 3493 28133%
 – Plug-in hybrid1 7721 46621%11 41712 075-5%
Mild hybrids/ICE13 40714 229-6%140 604154 735-9%
       
US14 07713 6093%125 243128 701-3%
Electrified models4 7723 23248%42 90235 65720%
 – Fully electric78968615%5 60813 609-59%
 – Plug-in hybrid3 9832 54656%37 29422 04869%
Mild hybrids/ICE9 30510 377-10%82 34193 044-12%
       
Other10 33111 736-12%112 091115 130-3%
Electrified models5 3724 58117%53 69442 39227%
 – Fully electric3 0252 41525%32 16721 05353%
 – Plug-in hybrid2 3472 1668%21 52721 3391%
Mild hybrids/ICE4 9597 155-31%58 39772 738-20%
       
Total73 80476 015-3%763 389708 7168%
Electrified models34 03528 46120%352 787265 98033%
 – Fully electric14 13012 27015%175 194113 41954%
 – Plug-in hybrid19 90516 19123%177 593152 56116%
Mild hybrids/ICE39 76947 554-16%410 602442 736-7%
TAGGED:global salesVolvo Cars

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