Fiat, Toyota, Renault latest to halt Brazil auto production due to virus
[SAO PAULO] Fiat Chrysler, Toyota Motor Corp and Renault announced on Friday they will stop auto production in Brazil temporarily due to the coronavirus pandemic.
Earlier this week, General Motors Co and Mercedes Benz said they would also stop production. Volkswagen and Volvo have also announced at least temporary production halts in Brazil.
The closures in Brazil have come shortly after automakers in the United States and the European Union announced similar measures.
Stephanie Brinley from IHS Markit said they are currently expecting auto production in South America to fall by about 98,000 units in March and April.
"I'm pretty sure that by Monday noon that number will be revised," Ms Brinley said. "It's a very fluid situation.
Brazil is by far the continent's largest auto producer, but Argentina also has a sizable output.
GET BT IN YOUR INBOX DAILY
Start and end each day with the latest news stories and analyses delivered straight to your inbox.
REUTERS
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Transport & Logistics
Geely, Foretellix partner to jump-start self driving car development
Ferrari posts underwhelming earnings amid flat deliveries
Tesla’s China-made EV sales fall 18% y/y in April
Brokers’ take: SAC Research initiates ‘buy’ on Soilbuild with S$0.04 target
Scoot begins flights with Embraer E190-E2 jet
VinFast’s EV ambitions get a reality check as shares plunge 65%