After news of a bug in the car's center screen that causes the speedometer to go into test mode when the engine is started, the automaker's shares fell 3.5 percent in early trading in Stockholm, the publication said.

According to a statement from Volvo on Monday, however, a software update is needed to fix the bug.

A company spokesman said the recall does not affect any other Volvo models.

• Volvo Car AB announced it is shifting production of electric cars from China to Belgium.