Supplier shutdowns mean weaker second half for Volvo Cars

Worldwide
Published:  06 September, 2021
Credit: Volvo

After reporting its results for August, the car manufacturer has forecast a weaker second half of 2021 than in the previous year, but still hopes to meet its full year outlook.

Volvo sold 45,786 cars globally in August, a 10.6% drop on the same period last year, but total sales for the first eight months of the year are up 26% on 2020.

Supplier shutdowns in Southeast Asia, due to Covid-19, have caused material shortages and subsequent production halts in the company’s facilities in Sweden, Belgium, China and the U.S., which has affected the volume of cars produced.

In August, the XC60 was the most sold model, followed by the XC40 and the XC90.