Volvo Cars says March sales fall 22%, hurt by chip shortage

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The company logo is seen on the bonnet of a Volvo car during the media day ahead of the 84th Geneva Motor Show in Geneva

STOCKHOLM – Volvo Cars said on Monday car sales in March fell 22% to 58,677 cars as the automaker faced shortages of a specific semiconductor.

Volvo, majority owned by China’s Geely Holding, said the shortage is expected to impact production during the second quarter.

(Reporting by Supantha Mukherjee in Stockholm; editing by Niklas Pollard)

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