• Email Us: [email protected]
  • Contact Us: +1 718 874 1545
  • Skip to main content
  • Skip to primary sidebar

Medical Market Report

  • Home
  • All Reports
  • About Us
  • Contact Us

Geely’s Volvo Cars warns on sales as supply woes dent output

September 3, 2021 by David Barret Leave a Comment

September 3, 2021

STOCKHOLM (Reuters) – Sweden-based automaker Volvo Car Group warned on Friday that sales volumes in the second half of 2021 could fall year-on-year after it was forced to cut production due to material shortages.

The carmaker, owned by China’s Geely Holding, said sales fell 10.6% from a year ago in August, despite strong underlying demand, and cautioned the potential decline in volumes in the second half could impact revenue and profit.

“But Volvo Cars’ outlook for the full year 2021 still remains,” it said in a statement, referring to a forecast of sales volume and revenue growth with improved profitability to pre-pandemic levels.

Volvo Cars said supplier shut-downs since mid-July – due to local efforts to limit the spread of the highly contagious Delta variant in South-East Asia – had worsened an already strained supply situation, forcing it to halt production.

A global chip shortage over the past year had already caused a major delay in manufacturing activity and forced several automakers to scale back output.

Global sales at the firm, which is considering listing on the Nasdaq Stockholm stock exchange this year, fell to 45,786 cars in August, with sales in Europe dropping 25% while they rose 3% in the United States.

(Reporting by Helena Soderpalm; editing by Niklas Pollard)

Source Link Geely’s Volvo Cars warns on sales as supply woes dent output

David Barret
David Barret

Related posts:

  1. China slams ‘incorrect’ politics in show business, high actor pay
  2. Get 50B of data for just £12 a month with this unbeatable Smarty SIM only deal
  3. FTC bans spyware maker SpyFone, and orders it to notify hacked victims
  4. The only one way to tackle ransomware: Zero Trust

Filed Under: News

Reader Interactions

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Primary Sidebar

  • How Outer Space Helps Clouds Form On Earth
  • Teenager With Exceptional “Mental Time Travel” Abilities Sees Past And Future With Rare Clarity
  • Think Hay Fever Season Is Over? Think Again – Fall Allergies Are On The Way
  • Microscopic Engine Is Hottest In The World – Just Like The Core Of The Sun
  • Gerrymandering Explained: How Math Is Used For Political Gain To Win Elections
  • The Longest Sperm On Earth Is 20 Times The Animals’ Body Size, But Whose Is It?
  • Ancient Bacterial DNA Has Been Recovered From A 1.1-Million-Year-Old Mammoth
  • On Sunday, 7 Billion People Will See The Moon Turn Red. But Who Will See The Blue Band?
  • 670-Year-Old Manuscript On “Unexplained Phenomena” Is Bad News For Believers In The Shroud Of Turin
  • What’s The Largest Egg Of Any Animal? Clue: It Doesn’t Come From An Ostrich
  • Snowy Albatross, The Largest Flying Bird By Wingspan, Is A Master Of Long-Haul Flight
  • Why Have Some Gel Nail Polishes Just Been Banned In Europe?
  • Beyond The Lab: How The World’s Largest Lab Science Conference Is Changing Lives
  • Meet Madame Berthe’s Mouse Lemur, The World’s Smallest Primate
  • 40 Years Since Titanic’s Wreck Was Found, Watch The Rare Footage Of Its Discovery
  • Watch As An Asteroid The Size Of A Brachiosaurus Passes 0.0014599 AU From Earth Tomorrow
  • The Crypt Of Civilization Was Sealed 85 Years Ago. It Won’t Be Opened Again Until The Year 8113 CE
  • New Zealand’s Population Just Jumped From 5 Million To 695 Billion Overnight – Well, Sort Of
  • Welcome To Earth’s Newest Nature Reserve: Protection Of The Great Maya Forest
  • New Liquid Crystal COVID-19 Test Could Be Quicker And More Accurate Than Lateral Flow
  • Business
  • Health
  • News
  • Science
  • Technology
  • +1 718 874 1545
  • +91 78878 22626
  • [email protected]
Office Address
Prudour Pvt. Ltd. 420 Lexington Avenue Suite 300 New York City, NY 10170.

Powered by Prudour Network

Copyrights © 2025 · Medical Market Report. All Rights Reserved.

Go to mobile version