Response

COVID-19 and plant closures: The automotive industry’s response to the pandemic

Ferrari factory

Closed.


Ferrari
For the most up-to-date news and information about the coronavirus pandemic, visit the WHO website.

As the novel coronavirus continues to spread across the world, automakers are taking extreme measures in the form of plant closures to halt the spread of COVID-19, the disease the coronavirus causes. The situation remains fluid as more European companies suspend work and US automakers extend shutdown periods.

Here are all the automakers and companies that have elected to halt production in the US and Europe so far. Information on Detroit’s Big Three begins our coverage, followed by all other shutdowns organized by the date automakers announced them.

Ford

Ford shut down all European and North American production on March 19 to help combat the spread of COVID-19. While Ford intended to reopen facilities and restart production on March 30, the company on March 31 delayed that goal indefinitely. However, it plans

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Group 1 Automotive Announces Additional Crisis Response Actions

HOUSTON, April 7, 2020 /PRNewswire/ — Group 1 Automotive, Inc. (NYSE: GPI), (“Group 1” or the “Company”), an international, Fortune 500 automotive retailer, today announced that effective immediately, it is suspending its cash dividend and canceling its prior share repurchase authorization.

“Due to the dramatic impact of the COV-ID 19 pandemic on the auto retail market and the associated temporary displacement of so many of our valued employees, the Group 1 Automotive Board of Directors has decided to suspend the quarterly dividend and cancel our existing share repurchase authorization at this time,” said Earl J. Hesterberg, Group 1’s president and chief executive officer. “In addition, we have reviewed our planned capital expenditures and are making significant reductions to this year’s planned spending.  These actions will further strengthen our balance sheet and provide additional resources during this period of market disruption,” added Hesterberg.

ABOUT GROUP 1 AUTOMOTIVE, INC.

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