German car giant Volkswagen on Thursday withdrew its 2020 financial targets as it warned of collapsing profits due to the coronavirus but said it plans to gradually restart production in coming weeks.
First quarter operating profit fell around 80 percent compared with January-March 2019, to 900 million euros ($979 million), VW said in preliminary figures.
With "standstill" in its retail network, sales fell around eight percent to 55 billion euros.
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