Volkswagen Thinks It'll Still Be Profitable in 2020 Despite Coronavirus

As expected, German auto giant Volkswagen (OTC: VWAGY) reported a small profit for the first quarter of 2020, after its operations around the world were disrupted by the outbreak of the COVID-19 virus. As the largest-selling automaker in China, VW was hit early by the effects of the pandemic. VW's first-quarter net income fell 83% from a year ago, to 517 million euros, on an 8.3% decline in revenue driven by a 23% decline in global deliveries.