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VW loses more than 2 billion dollars a week because of coronavirus

Ukraine / Europe / Engineering

Company warns of possible layoffs if the situation with the pandemic COVID-19 will not be taken under the control of national governments.

VW loses more than 2 billion dollars a week because of coronavirus

Sales of passenger cars in March decreased by 40%, said in an interview with German newspaper Boersen-Zeitung financial officer of carmaker Volkswagen Frank Witter.

the Company may have to cut jobs if the pandemic coronavirus will not be brought under control, because the automaker is losing about 2 billion euros (approximately $ 2.2 billion) a week, said Executive Director Herbert Diess, in an interview with German ZDF television.

"Only if we like China, Korea or other Asian States will take the issue under control, we will have a chance to pass the crisis without job losses. It requires a very sharp intervention," - said Diss.

VW, the world's largest automobile manufacturer by vehicle sales, has 124 plants all over the world, 72 of which are in Europe, and 28 - only in Germany. Earlier this month it suspended production in Europe because of the pandemic.

the Automaker, which owns Audi, Bentley, Bugatti, Lamborghini, Porsche, Seat and Skoda sold last year at 10.96 million vehicles. Volkswagen also produces Ducati motorbikes and MAN trucks and Scania.

Previously coalsalesthat European steel companies are facing a sharp drop in demand from automakers. In the UK, which has closed 80% of autos in the country, the projected 50% drop in steel demand.

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