Ferrari said on Saturday it closed its two plants until March 27 in a response to the coronavirus outbreak in Italy and an emerging shortage of parts, its Formula 1 team Scuderia Ferrari had also suspended its operational activities.
The sportscar maker adds to a string of Italian manufacturers which have closed plants or slowed production rates in response to the virus emergency, threatening to disrupt Europe’s struggling automotive industry.
Ferrari said in a statement it had so far ensured production continuity, as it already implemented all the health measures decided by the Italian government at the two sites, located in hometown Maranello and in Modena, in the northern Emilia Romagna region.
Chief Executive Louis Camilleri said Ferrari took the decision to close its plants out of respect for its workers:
“At a time like this, my gratitude goes first and foremost to Ferrari’s women and men who, with their tremendous commitment over the past few days, have demonstrated the passion and dedication that defines our marque.
“Together with our suppliers, they have ensured the Company’s production. And it is out of our respect for them, for their peace of mind and those of their families that we have decided on this course of action. Our clients and fans are also top of mind for us at this time, as we prepare for a strong restart.
However, it added the company was “now experiencing the first serious supply chain issues, which no longer allow for continued production”.
Premium brakes maker Brembo, whose clients include Ferrari, said on Friday it would temporarily close its four Italian plants next week.
All non-manufacturing activity will continue regularly, through smart working, Ferrari said.
Company workers will continue to receive their full salary and will not be requested to use their day-off allowance during the closure period, the source said.