- Automaker stocks have posted major declines as the COVID-19 outbreak has worsened globally and intensified in the US.
- Ford and General Motors have instituted restrictions on travel domestically and internationally, as has the United Auto Workers.
- The UAW has been in communication with its membership and the Detroit automakers, regarding preparations for the coronavirus outbreak.
- No major automaker has yet announced a curtailing of production.
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Automaker stocks are enduring their worst period since the financial crisis and the bankruptcies of General Motors and Chrysler. The selloff has been provoked by widening concerns about the COVID-19 coronavirus outbreak globally.
GM, Ford, Fiat Chrysler Automobiles, Tesla, and Ferrari have all declined in the past week, calling into doubt an auto sales boom that in the US has produced five consecutive record- or near-record sales years.
However, throughout the US industrial heartland, factories continue to operate. None of the Detroit Big Three has curtailed manufacturing, nor has Tesla.
Ford
"Our team is managing the global supply chain in real time, to avoid disruptions and develop and apply workarounds, where necessary," a Ford spokesperson said. "They've been doing that for several weeks now. To date, we've been able to meet customer needs."
Ford hasn't yet made any sweeping decisions regarding its US dealers, who in any case are independent businesses, responsible for their own policies.
However, Ford did add that the "company's primary objective of keeping people safe extends to dealers ... so we're supplying information and guidance to help them do so."
Earlier, Ford had announced restrictions on international and domestic travel.
General Motors
A GM spokesperson said that the carmaker was experiencing "no impact on GM's production in the US due to parts supply issues caused by the coronavirus."
But GM also earlier announced restrictions on international and domestic travel, saying that it was following recommendations from the Centers for Disease control.
GM set up a resource - GM.com/coronavirus - to provide updates on the COVID-19 situation. On Thursday, it had been updated to include information related to European nations where the outbreak has worsened.
"We are implementing new visitor protocols at all GM sites to keep our employees and all those who visit our locations safe," the company said in a statement to Business Insider.
"As the coronavirus disease outbreak continues to evolve and spreads globally, GM Medical and Security are monitoring the situation closely and will periodically update guidance based on the recommendations from the CDC and World Health Organization."
FCA did not immediately respond to a request for information on its policies.
Ferrari, based in Italy, is subject to the national shutdown currently underway there.
The United Auto Workers
A United Auto Workers spokesperson provided Business Insider with communications from its leadership who are working with Ford and FCA to ensure the safety and well-being of its membership. The UAW also shared COVID-19 preparedness literature that it has sent to members. The union has restricted travel.
The UAW spokesperson noted that the union has well-organized medical protocols at the national, regional, and local level and is equipped to guide its members through the outbreak in the US.
