Like the entire industrial world, Volvo Cars is grappling with a shortage of semiconductors which will also affect production in the second quarter.

The company believes this is a one-time setback and expects supply chain tensions to dissipate in the second half of the year.

Meanwhile, its overall sales are down sharply.

Fortunately, demand remains strong, especially for electrified vehicles, with Recharge models' share of total sales continuing to increase.

In April, Volvo Cars' electrified Recharge models grew by 18.7% compared to the same month in 2021, reaching 38.4% of total volume.

The share of all-electric vehicles remained at 10%.

In Europe, sales reached 19,822 units in April, down 23.2% compared to the same month last year.

Electrified Recharge models accounted for 51.4% of total sales during the month.

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