July 8, 2020 / 9:25 AM / a month ago

VW's SEAT reported a 48 million euro loss in Q1, says Q2 will be worse

BARCELONA, July 8 (Reuters) - Volkswagen’s Spanish brand SEAT interim chairman Carsten Isensee said on Wednesday the carmaker reported a 48 million euro loss in the first quarter of 2020 due to the coronavirus pandemic and said the second quarter will be worse.

“We are confident we will recover,” said Isensee at a press briefing, adding that production at SEAT’s main plant, located outside Barcelona, is currently almost the same as it was before the pandemic. (Reporting by Joan Faus, Editing by Inti Landauro)

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