Volvo Cars says supply chain woes remain as profit lags forecasts

Volvo Cars posted on Friday earnings below analysts' expectations pressured by the lingering global supply shortages, while demand for its products remained strong.

The logo of Volvo is seen on the front grill of a Volvo XC40 SUV displayed at a Volvo showroom in Mexico City, Mexico April 6, 2018. REUTERS/Gustavo Grafposted on Friday earnings below analysts' expectations pressured by the lingering global supply shortages, while demand for its products remained strong.

Volvo and other global car makers have been forced to cut vehicle output, despite robust demand in key markets like China and the United States, due to a global chip shortage."While the component shortage has eased somewhat, the supply chain is expected to remain a restraining factor," the Swedish company said in a statement.

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