STOCKHOLM–Volvo Car AB said Monday that car sales fell 26.9% on year in June as Covid-19 lockdowns in China caused component shortages which primarily hit production of its fully electric and plug-in hybrid cars. The Swedish auto makerVOLV.B,+0.06%— majority owned by China’s Zhejiang Geely Holding Group175,-3.70%— said it sold 49,904 cars in June, down from 68,224 in the same month last year.

Source: Wall Street Journal July 04, 2022 08:47 UTC