Volvo Cars January sales falls as stubborn chip shortage bites

Volvo Car Group’s sales suffered a 20.2% fall in January under pressure from the global component shortage.

Demand for Volvo’s products remained strong, though.

Volvo has been heavily impacted by sector-wide supply-chain constraints and semiconductor shortages

Volvo had warned last year that the chip shortage would continue into 2022.

Volvo’s global sales fell to 47,561 cars in January, with sales in Europe dropping 24.8% while they fell 12.8% in the United States.

Volvo is due to post fourth-quarter results on Feb. 11.

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