Volvo's Sales Milestone in 2024

The Volvo Group has proudly announced an impressive 8% year-over-year increase in full-year sales for 2024, reaching a total of 763,389 units sold throughout the year. This remarkable achievement underscores the company's strong market presence and consumer trust.

Electric Vehicles: The Future is Now

2024 marked a significant year for Volvo's electric vehicle (EV) segment, with sales soaring by 54% to over 175,000 fully electric cars sold globally. This surge propelled electric vehicles to account for 23% of Volvo's total sales, a notable increase from 16% in 2023. Additionally, the company sold 177,593 plug-in hybrid cars, marking a 16% annual growth and further cementing its commitment to sustainable mobility.

Regional Sales Performance

Europe emerged as a stronghold for Volvo, witnessing a 25% year-over-year increase in sales with 369,685 vehicles delivered. However, the United States and China experienced declines, with sales dropping by 3% and 8%, respectively. Despite these challenges, Volvo's global presence remains robust, with 73,804 vehicles sold worldwide in December alone, albeit a 3% decrease compared to December 2023.

Stock Market Reaction

Reflecting the positive sales report, Volvo's stock price saw a significant uptick, rising by 3.54% to 278.30 Swedish krona at 9:23 am CET. This financial upturn is a testament to the company's resilience and strategic market positioning.