Virus severely dents Volkswagen income - News Summed Up

Virus severely dents Volkswagen income


The new T-Roc Cabriolet has started rolling off the site’s production lines in Osnabrück where the convertible history started 70 years ago. Automaker Volkswagen saw car sales and operating profit plunge in the first quarter as the coronavirus outbreak closed dealerships and halted production. The quarter was marked by the shutdown of the company's plants due to the virus outbreak. The company said it still expected to make an operating profit for the year but that earnings would be "severely below'' last year's. Volkswagen, headquartered in Wolfsburg, Germany, makes cars under brands including Volkswagen, Audi, Porsche, SEAT, Skoda and Lamborghini.-AP


Source: The Standard April 29, 2020 09:00 UTC



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