"Fiat" Closes Its Factories For Two Weeks

"Fiat" Closes Its Factories For Two Weeks

Fiat Chrysler decommissioned production at its factories in Europe for two weeks due to the coronavirus. Fiat Chrysler (FCA)FCHA.MI, one of the world's most important vehicle manufacturers, interrupted production until March 27 in almost all of its European plants, due to the rapid spread of coronavirus. A statement by the FCA said: "(production) is to be temporarily decommissioned... it will enable the group to effectively respond to the disruption in demand by optimizing supply," it said. FCA shares fell 5.86% after the announcement. The FCA Company decommissioned production at its factories in Melfi, Pomigliano, Cassino, Mirafiori, Grugliasco and Modena in Italy, Kragujevac in Serbia and Tychy in Poland. Luxury sports car maker Ferrari De RACE at the weekend.MI had decelerated production at two factories due to shortages of parts. Nationwide isolation measures are being put in place in Italy, the country hardest hit by the Coronavirus outbreak in Europe. The government allows companies to operate only if they take very strict security measures against the outbreak.