Volkswagen on Wednesday said it expected to be profitable on a full-year basis even as the coronavirus pandemic caused first-quarter earnings to plunge, Trend reports with reference to Reuters.
Earlier this month, Volkswagen Group said car sales dropped by 23% on the year, causing operating profit to tumble 81% in the January to March period, forcing the car and trucks manufacturer to withdraw its outlook for 2020.
In February Volkswagen had said it aimed to achieve customer deliveries in line with the previous year, revenue growth of 4% in 2020 and slightly higher passenger car deliveries.