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% compared with the full year of 2023. For the month of December, Volvo Cars sold 73,804 cars globally, a decrease of 3% compared to December 2023.
Volvo Cars also saw a significant increase in sales of its electrified cars. For the full year 2024, Volvo Cars sold 175,194 fully electric cars, an increase of 54% compared with 2023, and 177,593 plug-in hybrid cars, a 16% compared with 2023. Sales of electrified models accounted for 46% of all Volvo cars sold globally during 2024. Sales of fully electric cars accounted for 23% of all Volvo cars sold globally during 2024, compared with 16% in 2023.
European sales reached 369,685 cars during 2024, an increase of 25% compared with 2023. Volvo Cars’ line-up of electrified models — fully electric and plug-in hybrid cars — accounted for 65% of all the cars sold in the region last year.
Volvo Cars’ US sales for 2024 amounted to 125,243 cars, down 3% compared to the full year of 2023. The number of electrified models sold increased by 20% and accounted for 34% of all cars sold in the USA during the year.
Sales in China decreased 8% compared to 2023, resulting in 156,370 sold cars during 2024. Overall, sales of electrified models grew 3% 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).