Porsche to halt production March 21 and hold annual press conference Friday morning

Article by Damon Lowney

With the novel coronavirus that results in the COVID-19 disease, yesterday Porsche decided to halt vehicle production, citing a preparation in declining demand. The factories in Zuffenhausen and Leipzig will cease production on March 21.

“With these measures, our company contributes to protect the workforce and reduce the spread of the coronavirus. The actual consequences are not yet predictable. It is therefore too early for forecasts. What is clear is that 2020 will be a very challenging year,” says Oliver Blume, Chairman of the Executive Board of Porsche AG. Porsche is also enacting a ban on business travel and mobile working where possible.

Meanwhile, Porsche is scheduled to have its annual press conference at March 20 at 5 AM EDT. Watch it here.