Ford halts activity again due to the pandemic

Covid-19 seems to be a recurrent problem for Ford.

Production doesn’t seem to be Ford’s strong point this week. Since the beginning of the week, two newly reopened factories closed after some employees were tested positive for Covid-19 infection. 

The plant that builds the Ford Explored, the Lincoln Aviator, and the Ford Interceptor police car, located in Chicago, ended its activity Tuesday, while the one in Michigan closed yesterday. They closed again after a production suspension of two months. Both plants resumed their operations on Wednesday morning, and night, respectively.

Since the opening, Ford screens its employees' body temperature and tests them when they show symptoms. Ford's spokesperson stated that the company took immediate measures to prevent the virus from spreading: "When two employees who returned to work this week tested positive for Covid-19, we immediately notified people known to have been in close contact with the infected individuals and asked them to self-quarantine for 14 days." Moreover, "we also deep cleaned and disinfected the work area, equipment, team area, and the path that the team member took." But according to some workers, things are not as rosy and as well organized as the management says. After Ford released a video with the updates made to assure a safe working environment, irregularities surfaced. Workers have to clean everything by themselves; the social distance doesn't apply, so the working spaces are crowded.

But the health issues are not the only problem. The Chicago plant suspended its activity yesterday afternoon due to a shortage of parts. The parts provider, Lear, suspended its factory also after one employee was tested positive.

Ford stock lost 41% of its value since the beginning of the year, while USA500 and USA30 lost 8% and 13%, respectively.  

Sources: edition.cnn.com, marketwatch.com, cbsnews.com


The information presented herein is prepared by CAPEX.com and does not intend to constitute Investment Advice. The information herein is provided as a general marketing communication for information purposes only and as such it has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is not subject to any prohibition on dealing ahead of the dissemination of investment research.

Users/readers should not rely solely on the information presented herewith and should do their own research/analysis by also reading the actual underlying research. The content herewith is generic and does not take into consideration individual personal circumstances, investment experience or current financial situation.

Therefore, Key Way Investments Ltd shall not accept any responsibility for any losses of traders due to the use and the content of the information presented herein. Past performance is not a reliable indicator of future results.