Covid-19 impact on the Volvo Group

by Autocar Pro News Desk , 17 Mar 2020

Given the Covid-19 outbreak and the resultant effort, it is affecting the Volvo Group, and the group estimates considerable risk of a material financial impact on the Group as from mid-March.

The general situation, government decisions across geographies to contain the spread and the movement restrictions has resulted in workforce shortage. This along with the supply chain disruptions has affected production.

There is also a potential impact on demand going forward though given the uncertain situation, it is not currently possible to predict the full potential impact on the Volvo Group. The automobile manufacturer and its suppliers are working to minimise any consequences for customers and mitigating the impact on the Group.