Volkswagen to close all European plants for COVID-19

▴ Volkswagen to close all European plants for COVID-19
German automaker Volkswagen says it is shutting down most of its European plants for two weeks due to the virus outbreak.

Volkswagen said Tuesday it would close a large portion of its European plants for about fourteen days because of vulnerability about interest for vehicles and supplies of parts in the midst of the infection flare-up.

Chief Herbert Diess made the declaration toward the beginning of the organization's yearly news meeting. The DPA news office, referring to worker delegates, said that the last moves would run this Friday in many areas.

The organization had said it expects a 4% expansion in deals this year yet Chief Financial Officer Frank Witter said Tuesday that vulnerability about the seriousness and term of the infection flare-up made it difficult to give a dependable expectation. Diess said 2020 would be "a troublesome year" as the infection flare-up "presents us with obscure difficulties."

Volkswagen a year ago caused a net benefit of 14.02 billion euros, to up 15% from 12.2 billion euros in 2018. Income for the year rose 7% to 252.6 billion euros ($281 billion).

Copyright 2020 The Associated Press. All rights saved. This material may not be distributed, communicated, reworked or redistributed.

Tags : #Volkswagen #Germany #Frankfurt #Closeallplants #COVID #EU #Dasauto

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