STOCKHOLM — Volvo Automotive gross sales fell 20 p.c to 47,561 in January below strain from the worldwide part scarcity, although demand for its merchandise remained robust, the automaker mentioned.
Gross sales in Europe dropping 25 p.c whereas they fell 13 p.c within the U.S., the automaker mentioned Wednesday in an announcement.
Volvo, which has been closely impacted by sector-wide supply-chain constraints and semiconductor shortages, warned final yr that the chip scarcity would proceed into 2022.
The Swedish firm mentioned that whereas manufacturing had continued to enhance regularly, retail deliveries had been held again “attributable to a rise of automobiles in transit.”
“The availability scenario continues to ease, however part shortages will stay a constraining issue for Volvo Automobiles and the auto business,” Volvo mentioned within the assertion.
Volvo mentioned the XC60 was its best-selling mannequin final month, adopted by the XC40 and the XC90.
Volvo, which is majority owned by China’s Geely Holding, listed on Nasdaq Stockholm in October after wrapping up Europe’s largest preliminary public providing of the yr.
The model is because of submit fourth-quarter outcomes on Feb. 11.