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REUTERS/Rebecca Cook/File PhotoA former president of the United Auto Workers, Gary Jones, on Thursday was sentenced to 28 months in jail for embezzling union funds as part of a larger federal probe into corruption in the union. Jones, who pleaded guilty last June to charges he embezzled more than $1 million, appeared in U.S. District Court in Detroit on Thursday. On Thursday morning, Jones pleaded for mercy from Judge Paul Borman and again apologized to the union and its members. read moreThe UAW said Jones' sentencing brings to a close a "very dark chapter" in the union's history. Jones' predecessor as head of the UAW, Dennis Williams, pleaded guilty to embezzlement of union funds in September and was sentenced to 21 months in prison last month.
Persons: Gary Jones, Rebecca Cook, Jones, Judge Paul Borman, " Jones, Saima Mohsin, Dennis Williams Organizations: United Auto Workers, National Association of, Advancement for Colored, REUTERS, UAW, Internal Revenue Service, U.S, Eastern, Eastern District of Michigan Locations: Detroit , Michigan, U.S, Detroit, Corsicana , Texas, Eastern District, United States
Second UAW president sentenced to 28 months in prison in union corruption probe
  + stars: | 2021-06-10 | by ( Michael Wayland | ) www.cnbc.com sentiment -0.98   time to read: +1 min
Gary Jones, the newly-elected President of the United Auto Workers (UAW), addresses the 37th UAW Constitutional Convention June14, 2018 at Cobo Center in Detroit, Michigan. Gary Jones is the second UAW president to be sentenced as part of a multiyear corruption probe into the prominent American labor union. His sentencing is among the last in the multiyear corruption probe, which has tarnished the union's reputation, created mistrust among its members and led to federal oversight of the UAW. During the hearing, Jones spoke quickly and somewhat emotionally as he apologized to the court, his family and UAW members. "I failed [my family], and I failed the UAW," he said before asking and pleading the judge for his mercy in sentencing.
Persons: Gary Jones, Dennis Williams, Jones Organizations: United Auto Workers, UAW, Convention, Cobo Center, Fiat Chrysler Locations: Detroit , Michigan, DETROIT
Detroit Three automakers will continue to require facial coverings
  + stars: | 2021-06-09 | by ( David Shepardson | ) www.reuters.com sentiment -0.98   time to read: +1 min
REUTERS/Rebecca Cook/File PhotoDetroit’s Big Three automakers and the United Auto Workers (UAW) union said on Wednesday that workers will continue to be required to wear masks in workplaces. The UAW and the automakers said temperature screening upon entering facilities is expected to be phased out. The UAW and automakers continue to recommend autoworkers get vaccinated. Many U.S. employers are still requiring vaccinated workers to wear masks in workplaces. Toyota Motor Corp (7203.T) is among the automakers that has ended temperature checks and entry questionnaires at U.S. plants but it is continuing to require facial coverings.
Persons: Rebecca Cook, autoworkers, COVID Organizations: Warren, Assembly, REUTERS, United Auto Workers, UAW, General Motors Co, Ford Motor, Chrysler, Stellantis, U.S . Centers for Disease Control, Prevention, U.S, Volkswagen, Toyota Motor Corp, Honda Motor, Nissan Motor, Thomson Locations: Warren , Michigan, U.S
Law firms often tout pro bono work on behalf of nonprofits in the public interest and can benefit from limited tax breaks for the work. At least one lawyer for Winston & Strawn has used pro bono hours to block public defenders from organizing. Big law firms use pro bono hours to show their social cachetStaffers at some legal nonprofits expressed concern that their organizations were spending funds fighting the unionization efforts. Aside from some limited tax breaks, the value that pro bono work gives big law firms is in social capital. Law firms often tout their pro bono work in marketing materials.
Persons: Winston, Strawn, Taft, Hartley, Tiffany Moseley, aren't, Alexi Shalom, paralegals, it's, Moseley, Laura Diewald, Epstein Becker Green, Marc A, Corey P, Epstein, Proskauer Rose, Proskauer, , Alice Hindanov, Joseph Baumgarten, Baumgarten, Proskauer hasn't, Louis DiLorenzo, they'd, Jeffrey L, Kessler, William G, Seyfarth Shaw, Jeff, Miossi, Jeff Kessler Organizations: Center, CFR, Association of Legal Aid, United Auto Workers, Winston, New, Legal Assistance Group, Children's, Lawyers, Association of Legal, National Labor Relations Board, Staff, Children's Law, Columbia University, NHL, Legal, Group, CFR didn't, National Football League Players Association, National Basketball Players Association, US, Soccer, New York Legal Assistance Group, CFR hasn't, American Bar Association, Credit Suisse, New York University, Columbia Law, Law, Aid Society, Port Authority of New Locations: New York City, unionize, Bond, Port Authority of New York, New Jersey
U.S. Senate panel advances EV tax credit of up to $12,500
  + stars: | 2021-05-27 | by ( David Shepardson | ) www.reuters.com + 0.00   time to read: +3 min
The bill would limit tax credits to vehicles with a retail price below $80,000 to qualify for the tax credits. The current maximum tax credit is $7,500 with no maximum price and currently phases out for individual automakers once they hit 200,000 total EVs sold. Both General Motors (GM.N) and Tesla (TSLA.O) have hit the cap and currently do not qualify for the $7,500 tax credit. It has numerous other green energy tax incentives and would rescind or cut many fossil fuel tax provisions. The EV incentives are estimated to cost $31.6 billion through 2031, according to a congressional estimate.
Persons: Christa Lopes, Lucy Nicholson The, EVs, Debbie Stabenow, Joe Biden, Biden, Rory Gamble, Stabenow, John Cornyn of Organizations: REUTERS, Lucy Nicholson The U.S . Senate Finance Committee, General Motors, Energy, Michigan Democrat, Volkswagen, House, Representatives, Ford, United Auto Workers, Republicans, EV, Thomson Locations: Irvine , California, United States, America, Michigan, John Cornyn of Texas
GM says UAW 'well positioned' to represent workers at battery JV
  + stars: | 2021-05-25 | by ( ) www.reuters.com + 0.00   time to read: +2 min
General Motors Co (GM.N) said on Tuesday the United Auto Workers union is "well positioned" to represent more than 2,300 workers at new U.S. joint venture battery plants with Korea's LG Chem (051910.KS). Ford Motor Co (F.N) last week announced a similar planned battery venture with SK Innovation (096770.KS). "respect workers' right to unionize and the efforts of the UAW to organize battery cell manufacturing workers in Ohio and Tennessee at our joint venture sites." GM added that it believes the UAW, "given their historic and constructive relationship in the automotive industry, would be well positioned to represent the workforce." The UAW said last week Ford has a "moral obligation" to make sure battery plant jobs are good-paying union jobs.
Persons: Joe Biden, Ford, Biden, ” Biden Organizations: Motors Co, United Auto Workers, Korea's LG, UAW, GM, U.S, Ford Motor, SK Innovation, Ultium, LG Chem, LG Energy, White, Thomson Locations: Ohio, Tennessee, Ford, Michigan, U.S, Spring Hill , Tennessee, Mexico, America
REUTERS/Anushree FadnavisFord Motor Co (F.N) and South Korean battery maker SK Innovation (096770.KS) on Thursday announced they will form a battery joint venture in North America to support the No. Reuters on Wednesday reported plans for the joint venture. That target would equal two jointly owned plants, the locations for which have not been identified, Ford North American Chief Operating Officer Lisa Drake said on a call with reporters. read moreThe United Auto Workers, which represents Ford's U.S. hourly workers, said on Thursday the automaker has a "moral obligation" to make sure the battery plant jobs are good-paying union jobs. Drake said that will be determined by the joint venture.
Persons: Ford, Lisa Drake, Hau, BEV, Tang, Yoosuk Kim, Joe Biden, Biden, Drake Organizations: Ford Aspire, REUTERS, Ford Motor, SK Innovation, Thursday, Reuters, Ford North American, Ford, SK Innovation's, LG Energy, LG Chem Ltd, U.S, Volkswagen AG, Ford EV, United Auto Workers, Thomson Locations: New Delhi, India, Korean, North America, Europe, China, American, Georgia, Michigan
DEARBORN, Mich. — Ford Motor previewed its new electric F-150 Lightning pickup earlier than planned during a visit Tuesday by President Joe Biden to the Michigan plant that will produce the vehicle. Sitting next to a traditional 2021 Ford F-150, the electric pickup appeared to be about the same size with a smoother, more aerodynamic design. The company unexpectedly showed the pickup for Biden’s tour of Ford’s Rouge Electric Vehicle Center in Dearborn, where the vehicle starts production this spring. He also reiterated support for new incentives to spur consumer adoption of EVs and switching the government’s fleet to electric vehicles like the F-150 Lightning. He did not go into details about excluding high-priced EVs from such incentives“The future of the auto industry is electric,” Biden said during a speech inside the plant.
Persons: Ford, Joe Biden, Biden, , VDAB, Leah Millis, Reuters Ford, ” Biden, I’m, , ” Jim Farley, Farley, They’re Organizations: Ford’s, Electric Vehicle, Service, Ford, VDAB Ford, Reuters, Secret Service, United Auto Workers, UAW, GMC, Tesla, Ford Mustang, EVs Locations: Mich, Michigan, Dearborn, America, China
REUTERS/Rebecca Cook/File PhotoFord Motor Co (F.N) and South Korean battery maker SK Innovation (096770.KS) are set to launch a battery joint venture in the United States to support the ramp-up of the No. A memorandum of understanding about the joint venture will be announced on Thursday, the sources, who asked not to be identified, told Reuters. SK Innovation said in a statement it does not comment on specific projects for reasons of client confidentiality. The Ford-SK joint venture will highlight close U.S. and South Korean ties on EVs, a key priority for Biden. SK Innovation, with battery production sites in the United States, Hungary, China and South Korea, has an annual capacity of about 40 gigawatt-hours (GWh) of batteries.
Persons: Jim Farley, Rebecca Cook, Ford, Joe Biden, Biden, Moon Jae, We've, we've, Farley Organizations: Ford Motor Co, REUTERS, Ford, SK Innovation, Reuters, SK, a.m, ETon, LG Energy, LG Chem Ltd, U.S, SK Innovation's, Volkswagen AG, Ford EV, LG, Korean, Biden, General Motors Co, United Auto Workers union, Ford's, Transit, Thomson Locations: Dearborn , Michigan, U.S, Korean, KS, United States, Georgia, Michigan, Washington, SK's Georgia, EVs, Hungary, China, South Korea, Ohio, Tennessee
Biden is pushing for electric vehicles in the auto industry's heartland, and trying to win over auto workers worried that more electric cars and trucks will mean fewer jobs. "It's jobs, jobs, union jobs," he told a Ford worker on the tour. The White House wants to encourage new battery production facilities, which are key to ramping up U.S. electric vehicle manufacturing. The centerpiece of Biden's EV plan is $100 billion in consumer rebates, according to an April U.S. Transportation Department email to lawmakers. The White House has declined to say how Biden wants EV tax credits restructured or if he wants to hike credits.
Persons: Rebecca Cook, Joe Biden, Biden, saidahead, We've, White, Rory Gamble, Ford, General Motors Organizations: Ford Motor, REUTERS, Ford, Lordstown, Nikola Motors, United Auto Workers, General, U.S . Transportation Department, EV, General Motors, Biden, Republicans, Capitol, Postal Service, Thomson Locations: Warren , Michigan, U.S, Michigan, EVs, China, United States, Mexico
GM noted it had recently announced nearly 9,000 new U.S. jobs and $9 billion in U.S. EV and battery facilities. UAW President Rory Gamble urged Biden to make sure investment encourages strong labor standards, good union jobs and U.S.-built vehicles. Biden went to a Ford test track to briefly drive the EV truck still camouflaged ahead of its official reveal on Wednesday. 1/5 U.S. President Joe Biden delivers remarks after touring Ford Rouge Electric Vehicle Center in Dearborn, Michigan, U.S., May 18, 2021. Biden is pushing for electric vehicles in the auto industry's heartland, and trying to win over auto workers worried that more electric cars and trucks will mean fewer jobs.
Persons: Joe Biden, Biden, Ford, Bill Ford, Rory Gamble, Leah Millis Read, White Organizations: Ford Motor, United Auto Workers, UAW, General Motors Co, GM, U.S, EV, Ford, Democratic, Trump, Ford Rouge Electric Vehicle, REUTERS, Lordstown Motors Corp, Nikola Corp, Republicans, Capitol, Postal Service, Thomson Locations: America, Dearborn , Michigan, Mexico, Ohio, Detroit, United States, China, ., U.S
FILE PHOTO: Workers arrive for a shift at the GM truck assembly plant amid the outbreak of the coronavirus disease (COVID-19), in Silao, Mexico May 22, 2020. The request for review marks the first time any country has used the Rapid Response Labor Mechanism in USMCA, which allows countries to target labor rights violations at specific factories. “Our trade agreements aren’t worth the paper they’re printed on if they are not enforced to defend workers in Mexico and here in the United States,” Pascrell said. The USMCA trade deal was rewritten to require that effectively 40% of the value of all Mexican-made vehicles be made in the United States or Canada. “In requesting this review, the United States clearly sends the message that worker rights must be respected,” U.S. Labor Secretary Marty Walsh said in a statement.
Persons: Biden, Sergio Maldonado, Katherine Tai, Tai, Trump, Bill Pascrell, ” Pascrell, Joe Biden, Jen Psaki, won’t, Marty Walsh Organizations: WASHINGTON, Wednesday, General Motors, GM, REUTERS, Sergio Maldonado U.S, Trade, U.S . Department of Labor, U.S . Congress, New, New Jersey Democrat, Chevrolet Silverado, GMC Sierra, U.S, Ford Motor Co, Ford, United Auto Workers, Volkswagen, Chrysler, Labor, U.S . Treasury Locations: Mexico, U.S, Canada, Silao, Mexican, United States, New Jersey, American, Dearborn , Michigan
FILE PHOTO: Workers arrive for a shift at the GM truck assembly plant amid the outbreak of the coronavirus disease (COVID-19), in Silao, Mexico May 22, 2020. Tai said she will partner with the Mexican government to try to “prevent a race to the bottom” for U.S. and Mexican workers. Before, the trade deal did not look at the labor situation,” President Andres Manuel Lopez Obrador said at a regular news conference. The so-called request for review marks the first use of the Rapid Response Labor Mechanism in USMCA, which allows countries to target labor rights violations at specific factories. Tai’s request warns all automakers - including Ford, Volkswagen and Chrysler parent Stellantis - that the Biden administration will not tolerate past Mexican labor practices that critics say kept wages depressed.
Persons: Sergio Maldonado, Katherine Tai, Tai, Andres Manuel Lopez Obrador, Joe Biden, Jen Psaki, Biden, Lopez Obrador Organizations: WASHINGTON, General Motors Co, GM, REUTERS, Sergio Maldonado U.S, Trade, Department of Labor, U.S, Rapid, U.S . Congress, , OECD, Chevrolet Silverado, GMC Sierra, Ford Motor Co, Ford, United Auto Workers, Volkswagen, Chrysler, U.S . Treasury Locations: United States, Mexico, Silao, U.S, Canada, American, Dearborn , Michigan
Such votes are part of Mexico’s broader effort to uphold worker rights as part of a new free trade pact that replaces NAFTA. In the GM case, some ballots were destroyed during the union-led vote, Mexico’s labor ministry found. It also said the union, which is part of the powerful Confederation of Mexican Workers (CTM), refused to give labor inspectors documentation of the vote tally. It also said it condemned labor rights violations and had hired a third-party firm to review the matter. UAW spokesman Brian Rothenberg told Reuters separately this week that it was “concerned and is having appropriate discussions” about the Mexico vote.
Persons: Rebecca Cook, Dan Kildee, Bill Pascrell, Earl Blumenauer, , , Mary Barra, ” Hugo Varela, CTM, Brian Rothenberg, Unifor, Mark Reuss, Jerry Dias Organizations: MEXICO CITY, General Motors Co, General Motors, REUTERS, AFL, Monday, U.S, Tridonex, of Mexican Workers, GM, U.S . Trade, United Auto Workers . UAW, Reuters, IndustriALL Global Unions Locations: MEXICO, Silao, Detroit , Michigan, U.S, United States, Mexico, Canada, Mexican, Matamoros, Guanajuato, Geneva, Toronto
Ex-UAW president sentenced to 21 months in prison in union corruption scheme
  + stars: | 2021-05-11 | by ( Michael Wayland | ) www.cnbc.com sentiment -0.88   time to read: +1 min
United Auto Workers union president Dennis Williams raises his arm in solidarity after his farewell speech during the 37th Constitutional Convention in Detroit, Michigan, June 13, 2018. DETROIT – A former president of the United Auto Workers who took part in a scheme along with other union officials that embezzled at least $1.5 million in member funds for lavish trips, golfing, alcohol and other luxuries was sentenced Tuesday to 21 months in prison. Dennis Williams is the highest-ranking union official to be sentenced as part of a multiyear corruption probe into the prominent American union. Under terms of the agreement, Williams' sentence would be between 18 months and 24 months. Federal prosecutors recommended the maximum sentencing guidelines for Williams, who led the union from 2014 to 2018.
Persons: Dennis Williams, Williams Organizations: United Auto Workers, Constitutional Convention, DETROIT, American, Fiat Chrysler, UAW Locations: Detroit , Michigan, United States, America
Former UAW president sentenced to 21 months in corruption probe
  + stars: | 2021-05-11 | by ( ) www.reuters.com sentiment -0.96   time to read: 1 min
United Auto Workers President Dennis Williams at a press briefing in Detroit, Michigan, May 19, 2016. REUTERS/Joseph WhiteA former president of the United Auto Workers, Dennis Williams, on Tuesday was sentenced to 21 months in prison and fined $10,000 for conspiring to embezzle union funds as part of a larger federal probe into corruption in the union. Williams, who pleaded guilty on Sept. 30, apologized to UAW members and asked for forgiveness at the video hearing. Williams, 68, is one of 15 people charged in a wide-ranging probe conducted by the office for the U.S. attorney for the Eastern District of Michigan, which last December reached a deal with the union for independent oversight. read moreOur Standards: The Thomson Reuters Trust Principles.
Persons: Dennis Williams, Joseph White, Williams Organizations: United Auto Workers, REUTERS, UAW, U.S, Eastern, Eastern District of Michigan, Thomson Locations: Detroit , Michigan, Eastern District
U.S. Commerce chief planning meeting on chip shortage -sources
  + stars: | 2021-05-10 | by ( David Shepardson | ) www.reuters.com sentiment -0.99   time to read: +2 min
Oliver Contreras/Pool via REUTERS/File PhotoU.S. Commerce Secretary Gina Raimondo plans to hold a May 20 meeting with senior U.S. auto industry leaders and others on a semiconductor shortage that has cut production, two sources briefed on the matter said. The meeting will include General Motors Co (GM.N), Ford Motor Co (F.N) and Stellantis NV (STLA.MI), the sources said. She said the chip shortage was a factor in the loss of 27,000 auto sector jobs in April. The Commerce Department did not immediately respond to a request for comment. Reuters reported last week that the department was planning a new meeting with automakers on chips.
Persons: Gina Raimondo, Oliver Contreras, Raimondo, TSMC, Ford, Joe Biden Organizations: American Jobs, Capitol, Washington , D.C, Commerce, U.S, General Motors Co, Ford Motor, Stellantis, MSNBC, Commerce Department, Reuters, Taiwan Semiconductor Manufacturing, United Auto Workers, GM, Thomson Locations: Washington ,, America, United States, U.S
Tech companies and other industries have repeatedly urged the administration not to pick “winners and losers” or attach conditions to funding to address the chip shortage. The Bureau of Labor Statistics said the U.S. motor vehicle and parts sector lost 27,000 jobs in April. The global chip shortage hit automakers hard after many canceled orders when plants were idled during the coronavirus pandemic. President Joe Biden has proposed $50 billion to boost U.S. semiconductor production. Raimondo told MSNBC Friday that the auto chip crisis was a factor in April’s jobs report.
Persons: , Joe Biden, Gina Raimondo, ” Raimondo, Raimondo, David Shepardson, Chizu Nomiyama, Keith Weir, David Gregorio Organizations: United Auto Workers, American Automotive Policy Council, Motor & Equipment Manufacturers Association, UAW, Tech, Labor Statistics, Reuters, Ford Motor Co, National Electrical Manufacturers Association, Association of Home Appliance Manufacturers, Air, MSNBC Locations: WASHINGTON, U.S, United States
U.S. lawmakers should prioritize automotive chip needs -- industry
  + stars: | 2021-05-07 | by ( David Shepardson | ) www.reuters.com sentiment -1.00   time to read: +2 min
WASHINGTON (Reuters) -The U.S. auto industry and United Auto Workers union on Friday urged Congress to tie billions of dollars in government funding to boost semiconductor production to the needs of automakers forced to slash production because of chip shortages. Congress “should prioritize production of the semiconductors necessary to assemble vehicles here in the United States. The letter seen by Reuters said the U.S motor vehicle industry is estimated to have lost over 330,000 production units as a result of the crisis. It said the ongoing chip shortage would cost it about $2.5 billion and about 1.1 million units of lost production in 2021. President Joe Biden has proposed $50 billion to boost U.S. semiconductor production.
Persons: , Biden, Joe Biden Organizations: WASHINGTON, United Auto Workers, American Automotive Policy Council, Motor & Equipment Manufacturers Association, UAW, Labor Statistics, Reuters, Ford Motor Co, ” Tech Locations: U.S, United States
U.S. lawmakers should prioritize automotive chips needs -- industry
  + stars: | 2021-05-07 | by ( ) www.reuters.com sentiment -0.96   time to read: 1 min
The U.S. auto industry and United Auto Workers union on Friday urged Congress to tie billions of dollars in government funding to boost semiconductor production to chip needs of automakers forced to slash production because of shortages. Congress "should prioritize production of the semiconductors necessary to assemble vehicles here in the United States. This will ensure that motor vehicle manufacturers have a fair share of chips needed to meet consumer demand," said the American Automotive Policy Council, Motor & Equipment Manufacturers Association and UAW on Friday in a joint statement. Tens of thousands of auto workers have faced layoffs because of production cuts due to chip shortages. Our Standards: The Thomson Reuters Trust Principles.
Organizations: U.S, United Auto Workers, American Automotive Policy Council, Motor & Equipment Manufacturers Association, UAW, Thomson Locations: United States
U.S. lawmakers make push for electric vehicles, charging stations
  + stars: | 2021-05-05 | by ( David Shepardson | ) www.reuters.com sentiment -0.99   time to read: +2 min
WASHINGTON (Reuters) - U.S. lawmakers are pushing for tens of billions of dollars in funding to shift to electric vehicles and away from gas-powered vehicles and build hundreds of thousands of charging stations. The House Democrats proposed a version last year while Donald Trump was president and who backed ending taxpayer subsidies for electric vehicle purchases. President Joe Biden has called for $174 billion in new spending to boost EVs and charging, including $15 billion to help build and support a national charging network of 500,000 stations by 2030. A U.S. House Energy and Commerce Committee panel is holding a hearing on several pieces of legislation to boost electric vehicles and charging Wednesday. The UAW criticized General Motors announcement Thursday to invest $1 billion to build EVs in Mexico.
Persons: Andy Levin, Alexandria Ocasio, Cortez, Donald Trump, Levin, “ everything’s, Joe Biden, , ” Levin, Frank Pallone, Cathy McMorris Rodgers, Biden, Josh Nassar, ” Nassar Organizations: WASHINGTON, Alexandria, The House Democrats, U.S . House Energy, Commerce, Biden, United Auto Workers, UAW Locations: United States, California, Mexico
The logo of Taiwan Semiconductor Manufacturing Co (TSMC) is pictured at its headquarters, in Hsinchu, Taiwan, Jan. 19, 2021. REUTERS/Ann WangThe U.S. Commerce Department is pressing Taiwan Semiconductor Manufacturing Co Ltd (2330.TW) and other Taiwanese firms to prioritise the needs of U.S. automakers to ease chip shortages in the near term, Commerce Secretary Gina Raimondo said. Wei expected the chip shortage for the firm's auto clients to be greatly reduced from the next quarter. The Commerce Department plans a meeting with automakers next week on the chip shortage issue, said officials briefed on the matter. On April 12, President Joe Biden convened semiconductor and auto industry executives to discuss solutions to the crisis.
Persons: Ann Wang The, Gina Raimondo, Raimondo, there's, TSMC, Wei, Wang Mei, Josh Nassar, Joe Biden Organizations: Taiwan Semiconductor Manufacturing, REUTERS, Ann Wang The U.S . Commerce Department, Taiwan Semiconductor Manufacturing Co, U.S, General Motors Co, Reuters, Commerce Department, Commerce, United Auto Workers, Ford Motor, GM, Thomson Locations: Hsinchu, Taiwan, Ann Wang The U.S, United States, America, Texas, Japan, Taipei, U.S
But for automakers and dealers, it has translated to wider, if not record, profits and even selling vehicles before they arrive at dealerships. The days of supply of new vehicles on dealer lots across the U.S. is 47 and on its way toward the low-30s, according to Cox Automotive. That compares to historical days of supply of at least 60, and higher for highly configurable vehicles such as pickups. There's also a matter of retaining workers and maintaining plants, which can take weeks to restart after a shut down. We are going to run our business with a lower days' supply than we have had in the recent past, because that's good for our company and good for customers," he said.
Persons: Angus Mordant, Chase Weldon, Michelle Krebs, Mike Bowsher, Bowsher, Jeff Dyke, AutoNation, Mike Jackson, Jim Farley Organizations: Bloomberg, Getty, Cox Automotive, General Motors, Sonic Automotive, CNBC, Publicly, Detroit automakers, United Auto Workers, Ford Motor Locations: Jersey City , New Jersey, Colorado, U.S, Georgia
General Motors investing $1B in Mexico plant for EV production
  + stars: | 2021-04-30 | by ( Phil Lebeau | ) www.cnbc.com sentiment -0.95   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailGeneral Motors investing $1B in Mexico plant for EV productionCNBC's Phil LeBeau reports on General Motors' latest investment in electric vehicle production, as well as the response from United Auto Workers.
Persons: Phil LeBeau Organizations: General Motors, United Auto Workers Locations: Mexico
United Auto Workers (UAW) union Vice-President Terry Dittes addresses delegates during the 'Special Convention on Collective Bargaining' in Detroit, Michigan, U.S. March 12, 2019. REUTERS/Rebecca CookThe United Auto Workers (UAW) union said Friday it wants tax incentives for electric vehicles (EVs) revised to require U.S. assembly for those vehicles to qualify. The current $7,500 tax incentive does not require EVs to be made in the United States. Representative Debbie Dingell, a Michigan Democrat, said "electric vehicles must be built here in America by the finest workforce in the world – the American worker. Last month, the UAW criticized Ford Motor's (F.N) plan to build a new vehicle in Mexico rather than at an Ohio plant.
Persons: Terry Dittes, Rebecca Cook, Biden, Debbie Dingell, Joe Biden, can’t, Ford Motor's, Ford, Sam Fiorani, Ramos Organizations: United Auto Workers, UAW, REUTERS, General Motors Co, Michigan Democrat, Wednesday, U.S, Automotive, Ramos Arizpe, AutoForecast Solutions, GM, Thomson Locations: Detroit , Michigan, U.S, United States, Mexico, Michigan, America, Michigan , Ohio, Tennessee, Ohio, Cuautitlan, Canada
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