Coronavirus costs Volkswagen 2 billion a week

Coronavirus costs Volkswagen 2 billion a week

March 28, 2020 0 By autotimesnews

A coronavirus outbreak and its economic consequences cost Volkswagen about 2 billion euros per week.

According to CEO Herbert Diss in an interview with the German channel ZDF, forced layoffs may begin due to closed factories and a lack of customers in the exhibition halls. “At present, we are not earning anything outside of China,” the leader said. Volkswagen’s manufacturing performance in China is approximately half the normal number.

According to Diss, the prevention of job loss is only possible if the spread of the virus in a short time will be put under control, which requires very decisive measures. Almost all European conveyors are currently standing. Volkswagen Sales and Marketing Manager Jürgen Stackmann predicts German market stabilization next summer.