This Morning in Metals: Ford, General Motors target May 18 for phased restart
This morning in metals news, General Motors aims to begin a phased restart of production at its North American facilities May 18, Ford said its parts distribution centers will resume full operations May 11 and Fiat Chrysler reported a first-quarter net loss of €1.7 billion.
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GM prepares to restart
After suspending production in late March in response to the COVID-19 pandemic, GM appears to be ready to restart almost two months later.
GM announced it plans to restart the majority of its manufacturing operations in the U.S. and Canada on May 18 “under extensive safety measures.”
The automaker reported net income of $300 million in Q1, a year-over-year decline of 86.7%.
Ford also eyes May 18 restart
Fellow Big 3 automaker Ford is also targeting a May 18 restart date.
The automaker announced Thursday that workers whose jobs cannot be done remotely — including vehicle testing and design — will go back to work beginning May 18.
The initial restart would include approximately 12,000 employees in North America, Ford said.
Ford’s parts distribution centers will resume full operations in North America on May 11.
Fiat Chrysler reports Q1 loss
Elsewhere, Fiat Chrysler reported a global net loss of €1.7 billion in the first quarter, compared with a profit of €508 million in Q1 2019.
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Fiat Chrysler reported global shipments of 818,000 vehicles in the first quarter, marking a 21% decline.
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