Volvo sales plummet for shortage of chips

16:42 - 2.02.2022


February 2, Fineko/abc.az. Sales of Volvo Car Group fell sharply in January by 20.2% to 47,561 cars.

ABC.AZ reports that despite the high demand for the company's cars, the shortage of microchips led to reduction in the manufacture and, ultimately, sales.

Sales of the Swedish car giant fell by 24.8% in Europe and by 12.8% in the U.S.

On a global scale, interruptions in the supply of chips affected primarily the revenues of companies specializing in the production of various electronic systems.