Factory Shutdowns, Demand Slump Hammer European Auto Earnings


BERLIN—Germany’s two largest auto makers reported sharp falls in earnings, revenue and new-car sales for the first three months of the year. Volkswagen AG and Daimler AG’s results are a measure of the impact on manufacturers of the auto industry shutdown that was part of the drive to contain the coronavirus pandemic.

German auto makers suspended swaths of production in Europe, the U.S. and China for weeks after Covid-19, the disease caused by the new coronavirus, spread world-wide. Both Volkswagen and Daimler, two of Europe’s…

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