Coronavirus: Ferrari extends factory shutdown until May 3

Ferrari has extended its factory shutdown until May 3 because of government lockdown procedures in Italy related to the coronavirus pandemic.

The supercar manufacturer had hoped to reopen today (April 14) but has now pushed that date back by nearly three weeks.

The factory initially closed on March 14 and implemented a smart working procedure that allowed any staff that could work remotely to do so, while the firm continues to pay staff for days of absence if they cannot.

This week the company launched a ‘back on track’ programme to ‘guarantee the adoption of the most advanced practices for the protection of employees’ health’.

Last month, Ferrari said it hopes to be able to provide financial guidance to investors during its first quarter earnings call on May 4, but is confident it will pull through this pandemic thanks to its ‘brand equity, strong balance sheet and sound business model’.

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