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While manufacturing output had continued to improve in the third quarter, the pace of production normalisation has been slowed by power outages and COVID-19 related lockdowns in China, it said.
The Gothenburg-based company now expects 2022 wholesale volumes to be “slightly lower” compared to the year before, down from a previous forecast for better wholesales volumes than in 2021.
Stockholm-listed Volvo, majority owned by Chinese automotive company Geely Holding said its quarterly operating profit fell to 2.1 billion Swedish crowns ($193.41 million) from 3.3 billion a year ago.
($1 = 10.8579 Swedish crowns)
