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  2. Coronavirus
April 01, 2020 05:34 AM

Continental scraps outlook amid virus shutdowns

Edward Taylor
Reuters
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    FRANKFURT -- Continental withdrew its outlook for the year after measures to stop the spread of the coronavirus forced the supplier to shut down more than 40 percent of its production.

    Continental said it was applying for shortened working hours for 30,000 employees and reviewing further ways it can cut costs and preserve liquidity.

    Continental said it expects sales in the first quarter of around 9.4 billion euros to 9.8 billion euros ($10.3-$10.7 billion).

    Continental ranks No. 4 on the Automotive News Europe list of the top 100 global suppliers with worldwide original-equipment automotive parts sales of $37.8 billion in 2018.

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        • Capgemini: Invent Head on automotive takeaways from CES 2023
        • Capgemini: Securing the industry's future through a radical rethink
        • Capgemini: Succeeding with the automated driving journey through AI
        • Capgemini: The circular economy is spurring new thinking on EV batteries
        • Capgemini: Toyota and Capgemini leaders on how OEMs can handle industry changes and succeed
        • HEXAGON: Plugging into data is the only way to make winning EVs
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