Volvo Car Malaysia Hits Record Sales In 2022

Volvo Car Malaysia closed 2022 with a record sales achievement of 3,194 vehicles, extending its continued growth in Malaysia. This achievement marks the 7th consecutive year of sales growth for Volvo in Malaysia and represents a 43% increase from the previous year. December 2022 was the most successful month for VCM as it managed to register 395 vehicles.

The brand’s first 2 electric vehicles to be assembled in Malaysia have contributed positively to the company’s bottom line. The Volvo XC40 Recharge Pure Electric was launched in March 2022 and sold out its allocation for the year in a short time. The company is still fulfilling existing demand and going into 2023 with a healthy list of orders. Similarly, the C40 Recharge Pure Electric was launched in December 2022 and had over 100 online orders 10 days after launch.

Both cars, assembled in the Volvo manufacturing plant in Shah Alam, 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% of its sales to come from its Recharge Pure Electric lineup by 2025.

“The launches of our first 2 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,” said Charles Frump, Managing Director of Volvo Car Malaysia.

Globally, 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% in December 2022 where its fully electric cars accounted for 20.1% of global sales for the same month.