HELSINKI — Sweden’s Volvo Cars saw its August income slide by 4.6% 12 months-on-year to 43,666 cars as the worldwide semiconductor lack and other disruptions ongoing to damage deliveries, the Swedish auto maker stated in a assertion.
Demand remained great, but the element shortages as well as ability cuts and COVID-19 outbreaks in China interrupted output, the business stated.
Volvo Cars on Thursday said it would briefly shut its plant in the Chinese town of Chengdu due to local coronavirus limitations and that a next facility had also been impacted by latest lockdowns.
The firm’s shares traded down .7% at 0737 GMT, lagging a 1% rise in Stockholm’s benchmark index.
(Reporting by Essi Lehto, enhancing by Terje Solsvik)