David McHugh

AP Business Writer

A worker completes an electric car ID.3 body at the assembly line during a press tour at the plant of the German manufacturer Volkswagen AG (VW) in Zwickau, eastern Germany, Tuesday, Feb. 25, 2020. Volkswagen are completely converting the plant in Zwickau from 100 percent combustion engine to 100 percent electric. Around 100,000 electric models are to be produced in Zwickau as early as next year.

VW Closes European Plants for 2 Weeks

Uncertainty surrounds demand for cars and supplies of parts amid the virus outbreak.

Federal Reserve Chair Jerome Powell walks pasts a reporter a the end of news conference, Tuesday, March 3, 2020, where he discussed an announcement from the Federal Open Market Committee, in Washington. In a surprise move, the Federal Reserve cut its benchmark interest rate by a sizable half-percentage point in an effort to support the economy in the face of the spreading coronavirus. Chairman Jerome Powell noted that the coronavirus 'poses evolving risks to economic activity.'

Economic Coordination Not Happening

The world economy is increasingly looking like it will fall into recession.

European Central Bank President Christine Lagarde talks to German Finance Minister Olaf Scholz during a meeting of European Union Finance Ministers in Eurogroup format at the Justus Lipsius building in Brussels, Monday, Feb. 17, 2020.

Europe Tries to Stave Off Recession

The country is staring a recession in the face.

Prince Abdulaziz bin Salman Al-Saud, Minister of Energy of Saudi Arabia, arrives for a meeting of the Organization of the Petroleum Exporting Countries, OPEC, and non-OPEC members at their headquarters in Vienna, Austria, Friday, March 6, 2020.

Oil Nosedives

Failure to strike a deal could send weak prices even lower, inflicting more pain on the U.S. oil patch, where thousands have been laid off.

Workers dismantle a booth after that the 90th Geneva International Motor Show (GIMS) is cancelled by Swiss authorities, at the Palexpo in Geneva, Switzerland, Friday, Feb. 28, 2020. The 90th edition of the International Motor Show, scheduled to begin on March 5th, is cancelled due to the advancement of the (Covid-19) coronavirus in Switzerland. The Swiss confederation announced today that all events involving more than 1,000 people would be banned until 15 March.

Trade Shows Go Virtual as Virus Spreads

Companies are taking their shows online.

In this Dec. 18, 2009 file photo snow covered grapes hang in a vineyard near Freyburg, Germany. A warm winter means that for the first time Germany's vineyards will produce no ice wine _ a prized vintage made from grapes that have been left to freeze on the vine. The German Wine Institute said Sunday that none of the wine regions that make ice wine saw the necessary low temperature of minus 7 degrees Celsius, or 19 degress Fahrenheit.

Warm Winter Nixes Special Wine

No ice wine for you.

Airbus Sees No Benefit from Boeing Woes

"It has to do with safety, and safety is paramount for the industry. This is one of the things we all have in common."

In this file photo Ola Kaellenius, CEO of Mercedes, stands next to a 'Vision EQS' car at the IAA Auto Show in Frankfurt, Germany.

Daimler Profits Slump

The losses underline pressures related to shifting consumer trends and tougher limits on greenhouse gases.

Daimler Earnings Sag by Half

The company has more expenses tied to regulatory and legal issues with diesel cars.

Bmw Recall Korea Ap

SUV Models Boost BMW Profits

Profits rose despite higher spending on new tech such as electric cars, a key challenge in the face of ongoing upheaval in the auto industry.

In this Tuesday, May 14, 2019 file photo, a journalist takes photographs during a presentation of the new electric 'ID.3' car at a press tour of the plant of the German manufacturer Volkswagen AG (VW) in Zwickau, Germany. Volkswagen is rolling out what it bills as the breakthrough electric car for the masses, the leading edge of a wave of new battery-powered vehicles about to hit the European auto market. The ID.3 is going on display ahead of the Frankfurt Motor Show on Monday Sept. 9, 2019.

Are Consumers Ready for VW's EVs?

Electric cars remain a niche product with less than 2% of the market, which adds up to a risky undertaking for the companies investing.

In this Thursday, May 3, 2018 file photo, Rupert Stadler, then CEO of Audi AG, attends the shareholders' meeting of the Volkswagen stock company in Berlin, Germany. German prosecutors announced Wednesday July 31, 2019, that they have charged Rupert Stadler and three other individuals with fraud in connection with sales of diesel cars with software that enabled cheating on emissions tests.

Ex-Audi Exec Charged

Rupert Stadler was charged with having known about the manipulation in Audi and Volkswagen cars and with continuing to sell the models despite that knowledge.