Fiat, Toyota, Renault latest to announce auto production halt in Brazil over coronavirus
Reuters
Published Mar 20, 2020 03:23PM ET
SAO PAULO (Reuters) - Fiat Chrysler (N:FCAU), Toyota Motor Corp (T:7203) and Renault (PA:RENA) announced on Friday they will stop auto production in Brazil temporarily due to the coronavirus pandemic.
Earlier this week, General Motors Co (N:GM) and Mercedes Benz said they would also stop production. Volkswagen (DE:VOWG) and Volvo (ST:VOLVb) 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," 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.
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Written By: Reuters
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