Fiat Chrysler, Ferrari close factories amid coronavirus outbreak

Fiat Chrysler Automobiles (FCA) is halting production at the majority of its European plants until 27 March, as the car maker reacts to the disruption caused by the coronavirus outbreak.

It follows Saturday's news that Ferrari will close its Maranello factory until the same date. The supercar firm cited supply issues as the reason. Premium brakes firm Brembo, which supplies Ferrari, has closed its four Italian plants for the time being.

FCA will close its six Italian plants, including Modena, as well as factories in Serbia and Poland.

In a statement, it said: "It enables the group to effectively respond to the interruption in market demand by ensuring the optimisation of supply."

FCA continued: "The group is working with its supply base and business partners to be ready to enable our manufacturing operations to deliver previously planned total levels of production, despite the suspension, when market demand returns."

Ferrari, which only last week said business continued as usual, commented in its statement: "The company, which had ensured continued production so far whilst placing employees' wellbeing as its main priority, is now experiencing the first serious supply chain issues, which no longer allow for continued production."

Italy has been the European country worst hut by the coronavirus, last week implementing a nationwide lockdown. To date, it has 24,747 reported cases of coronavirus, three times more than the second most affected European country, Spain.