Volvo Cars Warns China Shutdowns Will Impact Third Quarter Sales
Photographer: Erik Abel/Bloomberg
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Volvo Car AB has warned Covid-19 lockdowns in China could hamper its delivery of electric and plug-in hybrid vehicles in the third quarter.
The Swedish carmaker pointed to a shortage of components as a reason for sales in June falling 27% compared to the same month last year. However, the company is starting “to see a marked improvement in its manufacturing situation, with the number of cars produced in June being the highest in the year,” according to a statement.