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

Volvo Cars says March sales fall 22%, hurt by chip shortage
Volvo Cars says March sales fall 22%, hurt by chip shortage   -   Copyright  Thomson Reuters 2022
By Reuters

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.