This means 18 percent of all Volvo Car Malaysia sales was made up of BEVs

Volvo Car Malaysia (Volvo) concluded the 2023 calendar year with a higher sales mix of its battery electric vehicle (BEV) segment, making up 18 percent of total retail sales and representing an increase of 37 percent compared to 2022. This is amazing news considering EV sales seem to be dropping in the West.

Of the total, Volvo’s Recharge range which includes BEVs and plug-in hybrids (PHEV) made up 71 percent of total retail sales for the year. The brand’s Recharge sales mix places it among the top 15 global markets in the Volvo Car Group, where the global average sales mix for Recharge variants stood at 38 percent for 2023.

Moreover, Volvo Car Malaysia sold 2,694 cars in 2023 compared to 3,194 in 2022, which was a bumper year for the automotive industry following a full lifting of the Covid-19 pandemic’s social distancing and operating restrictions, coupled with numerous government incentives to kickstart the local economy.

2023 also saw the opening of the largest Volvo Certified Damage Repair centre by iRoll in Juru, Penang in April and the launch of the biggest Volvo 3S showroom by Sisma Auto in Sungai Besi, Kuala Lumpur in November. Clearly, the brand is doing quite well here in Malaysia and I hope it continues.

Charles Frump, Managing Director of Volvo Car Malaysia, also commended the government for extending EV adoption incentives such as the exemption on excise duty, sales tax, and import tax exemption for locally assembled (CKD) EVs components until 2027, the exemption of import and excise duty for fully imported (CBU) EVs until 2025, and a full tax exemption for EV charging equipment manufacturers until 2032.

Globally, Volvo Cars set a new sales record with 708,716 cars sold in 2023, an increase of 15 percent compared to 2022. The all-time-high is a demonstration of the group’s strong electrified product portfolio in combination with a more stabilised supply chain overall.

Volvo Cars also saw a significant increase in sales for its electrified cars. Last year, it sold 113,419 fully electric cars, an increase of 70 percent compared to 2022, and 152,561 plug-in hybrid cars, which was a 10 percent increase compared to 2022. Sales of fully electric cars accounted for 16 percent of all of the brand’s cars sold globally in 2023.

For more information, please visit the official Volvo Car Malaysia Website linked here now.