US automaker Ford is delaying the restart of its North American auto plants beyond 30 March, when production was previously expected to resume.
The automaker's decision today was driven by the growing number of US state and local governments ordering residents to stay at home in an effort to slow the spread of the coronavirus. Ford said it is working with union leaders on assessing the optimal time to restart vehicle production while "keeping the well-being of our workforce top of mind."
Last week Ford said that it was shutting down its North American operations at the end of 19 March, with a plan to restart the facilities on 30 March.
General Motors (GM), another one of the three major US automakers, said today it is accessing $16bn from its revolving credit facilities to help increase its financial flexibility. GM also withdrew its first-quarter financial guidance.
Fiat-Chrysler Automobiles, Ford and GM all announced on 18 March that they were shutting their North American auto plants through the end of the month.
Yesterday integrated steelmaker ArcelorMittal and electric arc furnace steelmaker Gerdau announced multiple blast furnace and mill closures in Canada and the US related to the auto shutdowns.
On 20 March original equipment manufacturer (OEM) Magna International announced it was closing its European and North American manufacturing plants. OEM Dana Inc said yesterday it is shuttering some of its manufacturing facilities.
