The global shortage of semiconductors will have a substantial impact on the Volvo Group's production in the second quarter, the company says.

In the beginning of the quarter, the group will implement stop days across its global truck manufacturing operations. In total, these are currently estimated to between two and four weeks depending on production site. In addition, disturbances are also expected to impact the group's other business areas.

Visibility into the global supply chain of semiconductors as well as other components is currently very low and the uncertainty about the development is high, Volvo said.

The disturbances are expected to have a negative impact on earnings and cash flow. The Volvo Group says it and its business partners are working hard to minimize the number of vehicles affected and the impact on customers by keeping flexibility to be able to increase production when possible.