Fiat Chrysler Automobiles has declared that it will not pay ordinary dividends for 2019 this year due to the collapse in consumer demand following the COVID-19 pandemic.
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Fiat Chrysler and PSA Groupe have also confirmed that preparations for their merger are progressing.
Boards of automakers Fiat Chrysler Automobiles NV and Peugeot SA said on Wednesday that they would not pay ordinary dividends for 2019 this year due to the collapse in consumer demand following the pandemic of COVID-19.
The health crisis has led the global auto industry to the worst decline since the 2008-2009 financial crisis. Consumer demand for vehicles has plummeted as governments in Europe and the United States have imposed blockades.
The two companies also confirmed that preparations for their merger are progressing with respect to antitrust and other regulatory filings.
(This story has not been edited by NDTV staff and is automatically generated from a syndicated feed.)
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