Volkswagen Group’s global vehicle sales fell 23 percent to 2 million in the first quarter. In March alone, sales were down 38 percent overall at 623,000 vehicles, reflecting the coronavirus crisis.
More specifically, March sales were down 44 percent in western Europe and down 23 percent in central and eastern Europe. Sales dropped 42 percent in North America and fell 35 percent in China.
Experts believe that declines in April sales could be steeper as the full impact of the lockdowns works its way through the system.
VW on Thursday withdrew its outlook for 2020 due to the uncertainty related to the virus outbreak which caused operating profit to drop 81 percent in the first quarter.