The Detroit Three automakers will shut down their U.S. plants to stop the spread...
The Detroit Three automakers have yet to issue profit warnings, but Germany’s BMW said on Wednesday its 2020 profit would be “significantly lower” than last year. FCA said it would update its financial guidance when it has greater visibility on the epidemic’s impact on the market.
United Auto Workers union President Rory Gamble, who had previously called on the Detroit automakers to close their U.S. plants, in a Wednesday statement called shutdowns “the prudent thing to do.” GM said Barra spoke with officials in President Donald Trump’s administration about the No. 1 U.S. automaker supporting production of medical equipment needed to help fight the outbreak, such as ventilators.
FILE PHOTO: The Ford logo is seen at the Ford oldest Brazil plant after company announced its closure in Sao Bernardo do Campo, Brazil February 21, 2019. REUTERS/Amanda Perobelli
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