Porsche Joins Ranks of Auto Makers Idling Production to Stop Virus
18 Mars 2020 - 2:33PM
Dow Jones News
By William Boston
BERLIN--Porsche AG, the sports car maker, said Wednesday that it
would idle production at its factories in Germany for an initial
period of two weeks to help contain the spread of the coronavirus
pandemic and take steps to confront a fall in the demand for new
cars.
Porsche, which is owned by Volkswagen AG, manufactures cars in
Stuttgart in southwestern Germany and in the eastern city of
Leipzig. The production stop begins Saturday, March 21. The company
gave no details about the anticipated business impact of the
stoppage or whether it would be able to resume production after two
weeks.
"The actual impact is not foreseeable," Porsche Chief Executive
Oliver Blume said in a statement. "It is too soon to make
forecasts. What's clear is that 2020 is going to be a very
challenging year."
Porsche said it also implemented a range of measures to contain
the virus, including a ban on work travel, expansion of remote
working, and moving meetings to video or telephone conferences.
Write to William Boston to William.Boston@wsj.com
(END) Dow Jones Newswires
March 18, 2020 09:18 ET (13:18 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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