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 percent compared to the full year of 2023. For the month of December, Volvo Cars sold 73,804 cars globally, a decrease of 3 percent compared to December 2023.

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

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

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

Sales in China decreased 8 percent compared to 2023, resulting in 156,370 sold cars during 2024. Overall, sales of electrified models grew 3 percent 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).