Volkswagen withdraws 2020 outlook after renvenue drop 8% in first quarter

FRANKFURT (Reuters) - Volkswagen Group on Thursday said that it was withdrawing its outlook for 2020 amid uncertainty related to the coronavirus outbreak which caused a fall in demand and group revenue to drop 8% in the first quarter of this year.Volkswagen said it expected first quarter revenue at around 55 billion euros ($59.83 billion), down from 60.01 billion euros in the year-earlier period. The full year outlook "can no longer be achieved", Volkswagen said.