STOCKHOLM -- Volvo Car's monthly sales fell 30 percent to 47,223 in September, dented by the global component shortage, the automaker said in a statement.
The company warned last month that sales volumes in the second half of 2021 could fall year-on-year after production cuts due to material shortages.
"The decline was related to a shortage of components. This affected production although it picked up again late in the month," Volvo said in the statement, adding demand for its products remained strong.
European sales at the automaker, which intends to list on the Nasdaq Stockholm stock exchange this year, fell 42 percent while demand in the U.S. dropped 9 percent.
A global chip shortage over the past year has caused a major delay in manufacturing activity and forced several automakers to scale back output.
Sources told Reuters last month that China's Geely Holding was in advanced discussions with banks to list Volvo in the coming weeks, aiming for a valuation of about $20 billion.
Through September, Volvo sales rose 18 percent to 530,649.