Ferrari to close Italy plants for 2 weeks in coronavirus response

MILAN -- Ferrari said on Saturday it closed its two plants until March 27 in a response to the coronavirus outbreak in Italy and an emerging shortage of parts.

Ferrari adds to a string of Italian manufacturers that have closed plants or slowed production rates in response to the virus emergency, threatening to disrupt Europe's struggling automotive industry.

Ferrari said in a statement it had so far ensured production continuity, as it already implemented all the health measures required by the Italian government at the two sites, located in Maranello, its global headquarters, and in Modena, in the northern Emilia Romagna region.

However, it added the company was "now experiencing the first serious supply chain issues, which no longer allow for continued production."