- The automotive company accomplished a seventh consecutive year of sales growth, recording a 43 per cent increase from 2022
- Growth is driven by strong performance of newly-launched Electric Vehicles and Plug-In Hybrids
KUALA LUMPUR, 9 January 2023 – Volvo Car Malaysia continues its rapid growth in Malaysia by closing 2022 with a record of 3,194 total sales from all car models.
The achievement marked a seventh consecutive year of sales growth for the automotive company with a 43 per cent increase from the previous year – a record high for Volvo Car Malaysia. In addition to that, December 2022 marked Volvo Car Malaysia’s most successful month as it closes the year, registering more than 395 units of sales.
The milestones in sales growth are spurred by the launch of its first two locally assembled electric vehicles, the Volvo XC40 Recharge Pure Electric and Volvo C40 Recharge Pure Electric. Launched in March 2022, the Volvo XC40 Recharge Pure Electric was an astounding success, with the company still fulfilling deliveries of cars with a healthy order bank ongoing for the year 2023. The Volvo C40 Recharge Pure Electric also saw encouraging responses from buyers, with more than 100 cars ordered online merely 10 days after its launch on 14 December 2022.
Both cars, assembled in the Volvo manufacturing plant in Shah Alam, are the first two locally assembled pure electric vehicles sold in Malaysia, to further solidify Volvo Car Malaysia’s position as the leader in locally assembling electric vehicles in Malaysia.
Volvo Car Malaysia is committed towards its global ambition of sustainability and on track to becoming a fully electric vehicle company by 2030. Volvo Car Malaysia also aims for 75 per cent of its sales to come from their Recharge Pure Electric lineup by 2025.
Charles Frump, Managing Director of Volvo Car Malaysia, said: “The launches of our first two locally assembled electric vehicles have been the catalysts of our sales growth. With an increased market share of our fully electric vehicles globally, we are optimistic the same will apply in Malaysia. In ending a successful 2022, we are excited to drive an all-electric future as we reinforce our commitment to offer Malaysians freedom to move in a personal, sustainable and safe way.”
At a global level, Volvo Cars’ total sales of 615,121 cars for year 2022 was unavoidably affected by challenges across the supply chain and production restraints caused by component shortages and COVID-related lockdowns. Despite this, the demand for Volvo cars remained steadfast with the sales of the overall Recharge lineup with Pure Electric and Plug-in hybrid powertrains reaching 43.8 per cent in December 2022 whereby fully electric cars accounted for 20.1 per cent of global sales for the same month.
