Ferrari to re-start car manufacturing on 14 April 2020
In a welcome bit of news for the original equipment business, on 27 March Ferrari N.V. announced that it plans to resume production on 14 April 2020.
According to the Ferrari statement, “All activities that can be conducted in smart working will continue to be performed as has been the case in recent weeks. The company will continue to cover all days of absence to those unable to take advantage of this solution.”
Given the huge uncertainty and lack of predictability that the Covid-19 has created, the company reports that it is taking all appropriate actions to “assure the wellbeing and welfare of its employees and that are deemed to be in the best interest of all stakeholders”.
Ferrari anticipates that it will be in a position to provide further financial guidance to the investment community during its first quarter earnings’ call on 4 May 2020. But the supercar maker remains confident its “brand equity, strong balance sheet and sound business model it will continue to create value for all stakeholders beyond the near-term uncertainties”.