Continental : scraps outlook as coronavirus shutdowns hit results

Continental withdrew its outlook for the year after measures to stop the spread of the coronavirus forced the auto supplier to shut down more than 40% 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 further said it expects sales in the first quarter of around 9.4 billion euros to 9.8 billion euros (8.31-8.63 billion pounds).

(Reporting by Edward Taylor; Editing by Michelle Martin)