Fiat Chrysler, Ferrari plant closures could continue, grow under coronavirus pandemic, Exor says

MILAN — Investment firm Exor said current plant closures at controlled companies Fiat Chrysler Automobiles, Ferrari and CNH Industrial, though temporary, might continue and increase depending on how the coronavirus outbreak developed.

Most of FCA’s plants around the world are currently shut in response to the virus emergency and a slump in demand. Ferrari’s two plants in Italy are also closed, as well as most of CNH’s facilities in Europe.  

The holding company of Italy’s Agnelli family, whose investments span from the automotive to the insurance sectors and also include industrial vehicles, media and football, said its net asset value rose to $26.55 billion at the end of 2019 from $19.74 billion one year earlier.

But it said it could not reasonably estimate the impact the coronavirus outbreak would have on its operations and results.

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