(Reuters) – German carmaker Volkswagen AG (DE:) said on Saturday its factories will be closing for two weeks and in some regions three, amid growing concerns over the spread of the coronavirus.
“Most of our factories are closing for two weeks, in some regions for three. The spreading of the virus will not have come to a standstill in several weeks from now,” Volkswagen Group CEO Herbert Diess said in a LinkedIn (NYSE:) post https://
The number of confirmed coronavirus cases in Germany has risen by 2,705 within a day to reach 16,662, the Department for Infectious Diseases at the Robert Koch Institute said on Saturday.
Volkswagen on Tuesday said it was suspending production at factories across Europe as the pandemic hits sales and disrupts supply chains.
The carmaker, which owns the Audi, Bentley, Bugatti, Ducati, Lamborghini, Porsche, Seat and Skoda brands, also said that uncertainty about the fallout from coronavirus meant it was impossible to give forecasts for this year.
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.