Volvo Cars set a new global sales record in 2024, with electrified vehicles driving its success. The company sold 175,194 fully electric cars, a 54% increase from 2023, and 177,593 plug-in hybrids, which grew by 16%. Electrified models represented 46% of Volvo’s global sales, with fully electric cars accounting for 23%, up from 16% in 2023.

Additionally, Volvo announced it sold 763,389 total cars, an 8% increase compared to 2023. In December, the company delivered 73,804 cars worldwide, marking a slight 3% dip from December 2023.

Regional Highlights: Europe Leads Electrified Sales

Volvo Cars increased European cars sold by 25% in 2024, selling 369,685 cars. Electrified models, including fully electric and plug-in hybrids, made up 65% of all sales in the region.

Volvo 2024 Sales in the U.S.: Electrification Trends Continue

In the U.S., Volvo sold 125,243 cars in 2024, down 3% from 2023. However, sales of electrified models grew by 20%, capturing 34% of Volvo’s total U.S. sales.

China Sales Reflect Mixed Results

In China, Volvo sold 156,370 cars in 2024, an 8% decline from 2023. Despite this, the company increased sales of electrified models by 3%, demonstrating a gradual shift toward sustainable options.

Volvo 2024 Top Sales Models

The Volvo XC60 led global sales in 2024, with 230,853 units sold, an increase from 228,646 in 2023. The XC40/EX40 followed with 173,890 cars sold, though this represented a drop from 200,670 in 2023. The XC90 rounded out the top three, increasing sales slightly to 108,621 units from 107,549 in 2023.