Volkswagen sees 'severe' virus impact but no annual loss ahead

With unit sales and revenue forecast "significantly below" 2019 levels, VW "expects operating profit for 2020 to be severely below the prior year, but still to remain positive," it said in a statement. In final first quarter figures released Monday, net profit at the sprawling 12-brand group fell 83 percent year-on-year, to 517 million euros ($561 million).

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