Please ensure Javascript is enabled for purposes of website accessibility

Toyota Joins List of Automakers Shutting Production in Europe

By Howard Smith - Mar 18, 2020 at 1:59PM

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

The pandemic has forced several automotive manufactures to temporarily cease production.

Toyota Motor Corporation's (TM -0.71%) Europe group has announced that it is idling production due to the coronavirus pandemic. This follows other automakers, including Ford Motor Co. (F 3.14%) and Volkswagen AG (VWAGY -0.51%), that have also announced stoppages at European facilities. 

In its announcement, Toyota Motor Europe expressed its condolences to those affected by the COVID-19 pandemic and its respect for the healthcare workers and government officials that are on the front lines battling the coronavirus spread.

Produced cars covered in white, waiting to move from manufacturer

Image source: Getty Images.

Taking action

Toyota is joining other manufactures across Europe that are taking action to help stem the spread of the pandemic based on measures recommended by health authorities. 

Volkswagen is suspending production at plants in Spain, Portugal and Slovakia, and at its subsidiary Lamborghini and Ducati plants in Italy. Ford has already announced production halts at facilities in Germany and Romania, and its Valencia, Spain plant shut down after three workers were confirmed as having tested positive for COVID-19.

The release from Toyota Europe Group discussed the efforts to protect its workers and help prevent the spread of the coronavirus, as well as "an uncertain short-term sales outlook and difficulties in logistics and supply chains [that] are being felt and will increase in the next weeks."

The affected Toyota plants include those in France, UK, Poland, Turkey, and the Czech Republic, which will cease production between now and the end of the week. The company also said it would continue operating processes to support service and sales, as well as maintaining staff for new vehicle projects. 

Howard Smith has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.

Invest Smarter with The Motley Fool

Join Over 1 Million Premium Members Receiving…

  • New Stock Picks Each Month
  • Detailed Analysis of Companies
  • Model Portfolios
  • Live Streaming During Market Hours
  • And Much More
Get Started Now

Stocks Mentioned

Ford Motor Company Stock Quote
Ford Motor Company
$15.78 (3.14%) $0.48
Toyota Motor Corporation Stock Quote
Toyota Motor Corporation
$156.20 (-0.71%) $-1.11
Volkswagen Aktiengesellschaft Stock Quote
Volkswagen Aktiengesellschaft
$19.60 (-0.51%) $0.10

*Average returns of all recommendations since inception. Cost basis and return based on previous market day close.

Related Articles

Motley Fool Returns

Motley Fool Stock Advisor

Market-beating stocks from our award-winning analyst team.

Stock Advisor Returns
S&P 500 Returns

Calculated by average return of all stock recommendations since inception of the Stock Advisor service in February of 2002. Returns as of 08/09/2022.

Discounted offers are only available to new members. Stock Advisor list price is $199 per year.

Premium Investing Services

Invest better with The Motley Fool. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services.