Volvo Car Sees 2022 Sales Flat-to-Lower on Supply Disruption
- Retail sales declined 27% in second quarter from last year
- Listing of EV unit Polestar boosted operating profit
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Volvo Car AB said retail sales this year will be flat or slightly lower than 2021 after semiconductor shortages and Covid lockdowns continued to weigh on production in the second quarter.
Retail sales declined 27% in the three months through June as Covid lockdowns in China and persistent supply-chain lags cut deliveries, Volvo said Wednesday. Previously the Swedish carmaker predicted some growth in deliveries this year.