The Volvo Group has revealed that the consequences of the coronavirus (Covid-19) outbreak is affecting the Volvo Group. It went onto say that there is a considerable risk of a material financial impact on the Group as from mid-March.
The Volvo Group and its suppliers are continuously working to minimize any consequences for customers and mitigating the impact on the Group.
The impact is related to the general situation and decisions made by local authorities resulting in among other things workforce shortage in the production and supply chain disruptions. There is also a potential impact on demand going forward.
Given the uncertain situation, it is not currently possible to predict the full potential impact on the Volvo Group.