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Ferrari Could Restart Production in Italy on April 14th

Last week, Ferrari announced that it’s closing two factories in Italy over the COVID-19 pandemic. The Apennine Peninsula has been hit the hardest by the coronavirus, and the situation keeps on getting worse with each passing day.
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Given these circumstances, take a look at the headline. That’s right; the Prancing Horse prepares to restart production on April 14th if the supply chain can support the Maranello and Modena factories! The press release that Ferrari published today ends with “creating value for all stakeholders beyond near-term uncertainties,” going to show that somebody up there - dressed in a fine suit – is feeling pressured.

Lamborghini has also stopped production over COVID-19, the latest – and arguably most contagious – type of coronavirus since human coronaviruses were discovered in the 1960s. Fiat Chrysler Automobiles production came to a grinding halt earlier this month at most European facilities, and French automaker PSA Group has also ceased production at more than a dozen plants in the Old Continent last week.

Ducati – the motorcycle manufacturer that’s currently controlled by the Volkswagen Group – announced that it won’t manufacture a thing in Borgo Panigale until March 25th but didn’t spare the effort to provide an update about the facility after that date. Make no mistake about it; the coronavirus has affected the industrial output of Italy far and wide, affecting the European country to a greater extent than China.

On a related note, Ferrari is feeling the effects of the pandemic in Formula 1 as well. We were talking about the FIA forgiving the Scuderia for cheating towards the end of February 2020, now Formula 1 chief exec Chase Carey expects the season to start in the summer and consist of 15 to 18 races out of a planned 22.

Six Grands Prix are currently postponed, leaving the Canadian Grand Prix as the season starter on June 14th. Fewer races mean less money from TV rights, and less money from TV rights translates to smaller payments for the teams. The Scuderia may be a works team, but the financial woes attributed to the coronavirus pandemic will undoubtedly affect both the Formula 1 outfit as well as the manufacturer.

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