⁍ German truck maker MAN expects an operating loss of 550 million to 750 million euros in 2020.
⁍ Man’s Truck & Bus unit expects an operating loss of 450 million to 650 million euros despite cost cutting measures.
⁍ Man Latin America operations are also expected to post a loss, the company said.
– H1N1 is taking a real toll on German truck maker MAN. The company, which is controlled by Volkswagen, said on Wednesday it expects an operating loss of between 550 million and 750 million euros in 2020, Reuters reports. The company also said it expects a “substantial decline” in full-year revenues as a result of the pandemic. MAN’s Truck & Bus unit expects an operating loss of 450 million to 650 million euros despite cost cutting measures, while the MAN Latin America operations are also expected to post a loss, the company said.
Source: https://www.reuters.com/article/volkswagen-man-results/volkswagens-man-truck-unit-says-it-expects-full-year-loss-on-covid-19-idUSL8N2HJ81C