- Volvo Cars saw its August sales fall by 4.6% year-on-year to 43,666 vehicles. Semiconductor shortages and other disruptions continued to hurt deliveries. The company’s shares traded down 0.7% at 0737 GMT, lagging a 1% rise in Stockholm’s benchmark index.
Due to the global semiconductor shortage and other interruptions, Volvo Cars’ August sales fell 4.6% year-over-year to 43,666 vehicles.
The company stated that component shortages, power outages, and COVID-19 in China interrupted production.
Volvo Cars said Thursday it would temporarily close its Chengdu plant due to coronavirus restrictions. A second unit has also been affected by previous lockdowns.
The stock fell 0.7% at 0737 GMT, underperforming Stockholm’s benchmark index’s 1% increase....