Ferrari halts production for two weeks in Italy amid coronavirus threat

Ferrari NV temporarily halted all production of its iconic sports cars in Italy due to the spread of the coronavirus, according to people familiar with the matter.

The Italian supercar maker will suspend its production at the Maranello and Modena plants until March 27, the people said, asking not to be identified because the decision isn’t public. The company will continue to pay its 4,000 workers in Italy, the people said. Ferrari’s decision follows a similar move by Volkswagen AG’s Lamborghini, which suspended production in Italy until March 25.

Italy has become the epicenter of the coronavirus outbreak outside of China, with more than 15,000 confirmed cases and a death toll of more than 1,200. The government has put the entire country on virtual lockdown as it tries to contain the spread.

Last month Ferrari boosted its 2020 forecasts for sales and earnings after the supercarmaker posted record deliveries, a sign that Chief Executive Officer Louis Camilleri’s model-range renewal is bearing fruit. The company produced more than 10,000 cars for the first time last year.