Detroit 3 Automakers to Shut Down U.S. Factories On Coronavirus Concerns
The Detroit automakers have agreed to shut down their U.S. manufacturing facilities due to worker concerns about the spread of the novel coronavirus, the Associated Press (AP) has reported. The move is expected to idle roughly 150,000 workers.
The decision represents a dramatic change of course for Ford Motor Company (NYSE: F), General Motors (NYSE: GM), and Fiat Chrysler Automobiles (NYSE: FCAU), one that will have a major impact on their revenue and sales in the near term.
Ford shut down its Michigan Assembly Plant this morning after a worker tested positive for the COVID-19 virus. The factory will remain closed until March 30, Ford said. Image source: Ford Motor Company.
Source Fool.com
