(Bloomberg) — Volkswagen AG joined other automakers around the globe in warning of the unprecedented fallout from the coronavirus pandemic.Supply and demand disruptions from government measures to slow the spread of the disease will cause operating profit to drop “severely” this year, the world’s largest automaker said on Wednesday. Efforts to rein in spending will allow the German company to remain profitable for the full year, despite an anticipated second-quarter loss.Volkswagen’s warning pales in comparison to the announcement from Ford Motor Co. last night. The U.S. carmaker forecast a second-quarter operating loss of more than $5 billion, devastating its efforts …read more
Source:: Yahoo Finance
