This is a big sector hit to the U.S. economy. All of the major U.S. auto manufacturers have agreed to shut down all production facilities, through March 30th, in the latest thunder-shock to the economy.
DETROIT – Ford Motor Co., General Motors and Fiat-Chrysler will close their plants due to the coronavirus (COVID-19) outbreak.
Ford said in a statement Wednesday that its U.S., Canadian and Mexican manufacturing facilities will be halted after Thursday evening’s shifts through March 30 to “thoroughly clean and sanitize the company’s plants.”
“UAW and Ford leaders will work together in the coming weeks on plant restart plans as well as exploring additional protocols and procedures for helping prevent the spread of the virus,” reads the statement from Ford.
General Motors also released a statement explaining the shutdown will be until at least March 30.
“GM and the UAW have always put the health and safety of the people entering GM plants first, and we have agreed to a systematic, orderly suspension of production to aid in fighting COVID-19/coronavirus,” said GM Chairman and CEO Mary Barra.
GM says it is working with the UAW to make sure all employees will be compensated. (read more)