Ford Motor Co (NYSE:F) and Toyota Motor Corp (NYSE:TM) are halting some production as anti-COVID-19-mandate protesters blocked key U.S-Canada border crossings, Reuters reported on Wednesday.
What Happened: Toyota does not expect to make vehicles at its Ontario sites for the rest of the week and Ford had halted engine output in Windsor while its Oakville factory near Toronto is operating with a reduced schedule.
Truckers have shut inbound Canada traffic at the Ambassador Bridge, a key supply route that has hit Detroit's automakers who have already been pressured due to severe weather and a shortage of semiconductor chips.
Another border crossing in Alberta province, from where more than two-thirds of the $511 billion in goods is traded annually between the two nations by road, has been shut in both directions since late Tuesday.
The Pain Could Spread: Ford has warned the “closures” could have a widespread impact on all automakers in the U.S. and Canada, adding to their woes.
The protests in Ottawa and at two Canada-U.S. border crossings have been going on for over weeks and have been escalating.
Protestors have come together against measures such as COVID-19 passports, mask mandates and requirements for truckers entering Canada to be fully immunized against the coronavirus.
Price Action: Ford shares closed 3.6% higher at $18.35 a share on Wednesday.
