Volvo increases global sales by 8% in 2024
- The Swedish carmaker Volvo Car (a subsidiary of the Chinese group Geely) broke its sales record in 2024, with 763,389 vehicles sold worldwide, compared to nearly 707,000 units in 2023 and 615,000 in 2022, which represents an increase of 8% compared to 2023 and 24% compared to 2022.
- It was in 2010 that the Geely group took over Volvo Car from the American Ford. Volvo Car saw its global sales increase from 400,000 units in 2010 to 763,000 in 2024, representing a near doubling of sales in fourteen years.
- Volvo sold 175,194 BEVs last year (23% of sales) and 177,593 PHEVs (23% of sales), which represents 46% of all its sales in 2024. Remember that Volvo now wants to sell 90% of BEVs and PHEVs worldwide in 2030, and no longer 100% of BEVs.
- The best-selling model is the D-segment XC60 SUV (230,853 units compared to 228,646), followed by the C-segment XC40/EX40 SUVs (173,890 units compared to 200,670) and the E-segment XC90 SUV (108,621 units compared to 107,549). These three SUVs represent 513,364 units, or 67% of Volvo's sales. The new B-segment EX30 SUV is quite a success, with 89,519 units already sold last year (including nearly 77,000 in Europe, or 86% of its production in China).
- Volvo sedans represent the smallest share of the brand's sales (18.5% of the total) with 83,276 S60/V60 and 57,150 S90/V90 sold in 2024. The rest corresponds to the C40/EC40 and EX90 SUVs.