Currently reading: Volvo profits slide £190 million as industry headwinds bite

Swedish marque's output blighted by rising material costs, supply chain shortages and Covid shutdowns

Volvo achieved what it calls "a stable financial result" in the first quarter of 2022 in the face of several strong headwinds affecting its operations.

The Swedish car maker's operating profit for the period stands at SEK 6.04 billion (£484.6 million), down some SEK 2.3bn (£190m) on the same period in 2021.

That's partly a result of the ongoing supply chain crisis, which has throttled output for many of the world's largest car makers over the past year.

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