Volvo Cars Says March Sales Fall 22 Percent, Hurt by Chip Shortage

The company logo is seen on the bonnet of a Volvo car during the media day ahead of the 84th Geneva Motor Show at the Palexpo Arena in Geneva, on March 5, 2014. (Arnd Wiegmann/Reuters)

STOCKHOLM—Volvo Cars said on Monday car sales in March fell 22 percent to 58,677 cars as the automaker faced shortages of a specific semiconductor.

Volvo, majority-owned by China’s Geely Holding, said the shortage is expected to impact production during the second quarter.