Virus Fears Hit Volvo

By Ian Cameron17 March 2020

The full financial impact of the Covid-19 epidemic is being felt with Volvo revealing that the virus is likely to hit its bottom line.

In a statement it said:”The consequences of the Covid-19 outbreak is affecting the Volvo Group, and 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.”

MAGAZINES
NEWSLETTER
Delivered directly to your inbox, Diesel News Network newsletter features the pick of the breaking news stories, product launches, show reports and more from KHL's world-class editorial team.
CONNECT WITH THE TEAM
Mike Brezonick VP, Power Division Tel: +1 262 754 4112 E-mail: mike.brezonick@khl.com
Alister Williams VP Sales Tel: +1 843 637 4127 E-mail: alister.williams@khl.com
CONNECT WITH SOCIAL MEDIA
Latest News
Proterra names president of its Powered, Energy business units
Chris Bailey was senior vice president of Proterra Energy.
UAW workers go on strike at Deere
Move affects 10,000 employees at 14 facilities in the U.S.
Ben Froland new product manager at Hatz Diesel
Will oversee sales and service of the company’s Flywheel-Integrated Permanent Magnet Generators