Volvo Car sales fell 24.8% in April as semiconductor shortages weighed on production, while lockdowns in China hit car deliveries.
The company had previously stated that the lack of supply of a particular type of semiconductor would affect production in the second quarter, but stressed today that it considers this to be a temporary setback and expects that supply chain restrictions related to semiconductors will improve during the second half of the year.
The Swedish carmaker, which owns a majority stake in Chinese group Zhejiang Geely, said it sold 47,150 vehicles in April, down from 62,724 in the same month last year.
In Europe, sales fell 23.2% to 19,822 vehicles, with sales in China falling 47.8% to 8,579 vehicles. The company announced a 9.2% drop in sales in the US, to 10,022 cars.
The company intends to manufacture exclusively electric vehicles by 2030.
Source: Capital
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