Coronavirus-induced shutdown at GM will continue indefinitely
Automaker says it is 'actively monitoring the situation, and possible impact of the crisis on consumer demand.'
General Motors announced Thursday that it will extend its coronavirus shutdown of Chevy and all GM plants in North America indefinitely beyond March 30.
"Previously, we announced the suspension of regular plant operations across North America through March 30", said vice president of General Motors North America Manufacturing and Labor Relations Phil Kienle in a message to manufacturing employees. "Today, we are extending that suspension and will continue to evaluate our operating plans going forward".
A spokesperson for GM confirmed the news to FOX Business on Thursday.
"We are actively monitoring the situation, and possible impact of the crisis on consumer demand. When we can safely resume production, we will," a spokesperson for the company said.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| GM | GENERAL MOTORS CO. | 55.49 | +0.70 | +1.29% |
General Motors stock closed at $22.56 per share at the end of Thursday's trading session.
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Automakers started shutting down plants due to the pandemic nearly two weeks ago. Earlier Thursday, Ford Motor Co. and Fiat Chrysler Automobile said they could potentially reopen their U.S. facilities as early as April 14.