Ferrari has issued a statement confirming the Italian auto maker has suspended production in its Maranello and Modena facilities with immediate effect.

The suspension is set to run until March 27 with the statement citing supply chain issues together with COVID-19 precautions as instigating factors.

It also confirmed that the company’s Formula 1 team would be impacted alongside its road car business.

“At a time like this my gratitude goes first and foremost to Ferrari’s women and men who, with their tremendous commitment over the past few days, have demonstrated the passion and dedication that defines our marque,” said Louis Camilleri, Ferrari’s CEO.

“Together with our suppliers, they have ensured the company’s production.

“And it is out of our respect for them, for their peace of mind and those of their families that we have decided on this course of action.

“Our clients and fans are also top of mind for us at this time, as we prepare for a strong restart.”

Non-manufacturing related works are set to continue by ‘leveraging the opportunities provided by smart working’.

Ferrari’s announcement follows comments made by Claire Williams in the lead up to the Australian Grand Prix weekend, the Williams Deputy Team Principal revealing her team was in a position to have staff work from home where possible.