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☆ Beyond the automakers: How the UAW strike may hit the US economy
▼ + stars: | 2023-09-16 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +4 min

UAW president Shawn Fain said “we’re not going to wreck the economy. For instance, if all UAW workers at Ford, General Motors and Stellantis strike for 10 days, it would cost the US economy $5 billion, according to Anderson Economic Group’s estimates. He estimated $440 million worth of income would be lost nationally if all the UAW members strike for two weeks. If the strike lasts eight weeks, he estimates a $9.1 billion hit to incomes nationwide. Cars could get more expensiveAnderson Economic Group estimated that 25,000 vehicles won’t be produced if the strike lasts 10 days.

Persons: ” Gabriel Ehrlich, Shawn Fain, “ we’re, Ehrlich, Tyler Theile, That’s, they’re, Theile, Jonathan Smoke, CNN’s Peter Valdes, Dapena Organizations: New, New York CNN, United Auto Workers, University of Michigan, CNN, UAW, Ford, General Motors, Anderson Economic, Anderson Economic Group, Suppliers, Big, Cox Automotive Locations: New York, what’s, Michigan

☆ Buying a car? What the UAW strike means – and doesn’t mean – for auto sales
▼ + stars: | 2023-09-15 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +5 min

New York CNN —Now that the United Auto Workers union has started a strike, the US auto market is about to be thrown into turmoil all over again. Auto sales hadn’t entirely recovered from the pandemic, but car shopping in the United States could change once more. The auto manufacturing crises of recent years have left auto dealers better prepared to deal with disruptions, said Scott Kunes, chief operating officer of Kunes Auto and RV Group, which owns more than 40 dealerships in the Midwest. It pays to be flexibleBefore the strikes started, auto dealerships had reasonably healthy inventories of new vehicles, according to Michelle Krebs, an analyst with AutoTrader. That means they’ll still have vehicles to sell for a few weeks, but, as the strike wears on, the choices available will start to dwindle.

Persons: They’re, Jonathan Smoke, Scott Kunes, ” Kunes, “, Kunes, Tyson Jominy, JD Power, Thomas Goldsby, Jominy, Michelle Krebs Organizations: New, New York CNN, United Auto Workers, Auto, Ford, GM, Cox Automotive, Kunes, RV Group, Toyota, BMW, Hyundai, Nissan, Volvo, Subaru, South Korean, JD, University of Tennessee, Trailblazer, Dodge, AutoTrader Locations: New York, United States, Michigan, Canada, Mexico, South Korea

☆ What people are saying about the US auto worker strike
▼ + stars: | 2023-09-15 | by ( ) www.reuters.com time to read: +3 min

Sept 15 (Reuters) - The United Auto Workers union launched simultaneous strikes at three factories owned by General Motors (GM.N), Ford (F.N) and Chrysler parent Stellantis (STLAM.MI) on Friday, kicking off the most ambitious U.S. industrial labor action in decades. "I’m looking forward to joining our auto workers on the picket line this weekend. For the sake of Michigan’s economy and our working families, I hope this strike is short-lived. "American families are already feeling economic pressures from near-record-high inflation, and this will only inflict more pain. We urge a swift resolution to end this strike and avoid further undermining the strength of our industry and harming our broader economy."

Persons: ELISSA SLOTKIN, we’ve, ” JAY TIMMONS, DEBBIE STABENOW OF, Joseph White, David Shepardson, Trevor Hunnicutt, Peter Henderson, Anne Marie Roantree, Jamie Freed Organizations: United Auto Workers, General Motors, Ford, Chrysler, Ford Bronco, Chevrolet, UAW, Company, DEMOCRATIC U.S, ELISSA SLOTKIN OF, NATIONAL ASSOCIATION, ”, Thomson Locations: Chevrolet Colorado, ELISSA SLOTKIN OF MICHIGAN, China, Detroit, DEBBIE STABENOW OF MICHIGAN, Washington, San Francisco

☆ Wall Street’s mood is improving — but it’s far from upbeat
▼ + stars: | 2023-09-14 | by ( Krystal Hur | ) edition.cnn.com time to read: +5 min

CNN —Wall Street’s optimism has edged up in recent weeks after an August slump to levels not seen since the collapse of several regional banks earlier this year. CNN’s Fear & Greed Index, which tracks seven different barometers for market sentiment, has oscillated between “neutral” and “greed” territory this month after plunging to a “fear” reading mid-August. The broad-based S&P 500 index has roared 16% higher this year, propped up by Wall Street’s infatuation with artificial intelligence that’s driven a powerful rally in tech stocks. While the Fed’s policy meeting is taking place next week, there’s a laundry list of factors stoking uncertainty in the market. September has historically been the worst month for stocks, and it could live up to its reputation this year.

Persons: it’s, August’s selloff, ”, Eric Sterner, Wall, Michael Arone, Arone, Chris Isidore, “, Gary Quirk, Quirk, epitomize, Birkenstock Organizations: CNN Business, Bell, CNN, Apollon Wealth Management, Federal Reserve, Stocks, State Street Global Advisors, American, of, United Auto Workers, Stellantis, Jeep, Dodge, Chrysler, Samsung, UAW, Wall Street, US Securities and Exchange Commission, New York Stock Exchange, Financial Locations: Kokomo , Indiana, New York, United States

☆ Wage contract negotiations: UAW vs. GM, Ford, and Stellantis
▼ + stars: | 2023-09-14 | by ( Chris Isidore | Amy O'Kruk | ) edition.cnn.com time to read: +1 min

Top hourly wage for most of the UAW members at GM, Ford and Stellantis. This was how much wages would have increased over the four-year life of the contract under the union’s initial wage demand. While the union has lowered their wage demands since then, they are still far above the double-digit wage increases being offered by the automakers. The number of UAW members at the three companies: 57,000 at Ford, 46,000 at GM and about 42,000 at Stellantis. Ford was last struck in 1978, when the company had 202,000 union members, or more than now work at the three companies combined.

Persons: Stellantis, Ford Organizations: CNN, United Auto Workers, General Motors, Ford, Jeep, Dodge, Chrysler, UAW, GM, Big Locations: Stellantis, Edmunds, That’s

☆ ‘A spit in the face.’ Electric vehicle plans worry a Midwest auto town
▼ + stars: | 2023-09-13 | by ( Chris Isidore | ) edition.cnn.com time to read: +8 min

The first piece of steel for the Stellantis and Samsung joint venture EV battery plant is raised earlier this year. Many believe the company will decide to have other work done at the Kokomo plants, even if it no longer needs transmissions or engines. A fraction of auto plant payThe Kokomo battery plant is still more than a year away from starting production. The battery plant workers are likely to start at half that, Quirk said. Even the top wage will be nearly 30% below top wage at a UAW plant today, let alone what it could be in the upcoming contract.

Persons: “, ”, Gary Quirk, Quirk, epitomize, Stellantis —, Adam Nelson, Shawn Fain, Denny Butler, Chris Isidore, Todd Dunsmore, EVs, Philip Kline, Daniel Acker, Joe, Biden, Butler, —, Kline, ” Quirk, it’s, won’t, that’s, Dunsmore, “ I’ve Organizations: Indiana CNN, United Auto Workers, Stellantis, Jeep, Dodge, Chrysler, Samsung, UAW, Big, —, Motors, Ford, EV, Local, CNN Kokomo, Kokomo, EVs, Employees, Bloomberg, Getty, General Motors, GM, LG, Workers, aren’t Locations: Kokomo, Indiana, Kokomo , Indiana, Midwest, Indianapolis, South Bend, Stellantis, ”, —, Ohio, North America

☆ Ford’s former CEO has a stark warning for both the UAW and automakers
▼ + stars: | 2023-09-13 | by ( Matt Egan | ) edition.cnn.com time to read: +8 min

“The automakers can’t plead poverty,” Fields told CNN on Wednesday, noting the industry’s recent string of profitable years. [Automakers’] CEO pay went up 40%. “But I do think he’s quite misplaced in that if there’s a work stoppage… there will be lots of people hurt,” the former Ford CEO said. However, economists say a UAW strike is unlikely to cause a recession, though it would do damage to local economies and parts suppliers. You can’t fault them for trying to deal with inflation that is hurting their families,” the former Chrysler CEO said.

Persons: Mark Fields, ” Fields, “, ”, Jim Farley, Fields, CNN’s Vanessa Yurkevich, “ We’re, ” Farley, Shawn Fain, ’, ” Fain, Jake Tapper, Bob Nardelli, ” Nardelli, Goldman Sachs, “ It’s, Fain, Nardelli, Ron Gettelfinger, Ford, CNN’s Chris Isidore Organizations: New York CNN Business —, Detroit, Ford, GM, CNN, Chrysler, United Auto Workers, UAW, UPS, American Airlines, West Coast, TPG Capital, Anderson Economic Group, Big Locations: Mexico, Chihuahua

☆ US auto labor talks intensify near strike deadline
▼ + stars: | 2023-09-12 | by ( David Shepardson | ) www.reuters.com time to read: +4 min

REUTERS/Rebecca Cook/File Photo Acquire Licensing RightsWASHINGTON, Sept 12 (Reuters) - Talks between the Detroit Three automakers and United Auto Workers union are nearing a Thursday night deadline to reach a deal on a new contract before a potential walkout by 146,000 U.S. autoworkers. Coordinated strikes would mark the first-ever simultaneous labor stoppage at all three Detroit automakers and one of the largest U.S. industrial labor actions in recent years. LAST DAYS BEFORE DEADLINEThe UAW on Friday had rejected revised offers from Stellantis, General Motors (GM.N) and Ford Motor (F.N). GM said Tuesday CEO Mary Barra decided not to attend Business Roundtable meetings in Washington on Wednesday and Thursday because of the labor talks. "She changed her plans in order to stay close to the labor negotiations process," GM spokesperson Jeannine Ginivan said.

Persons: Rebecca Cook, Shawn Fain, Nancy Pelosi, Pelosi, Fain, We've, Bernie Sanders, Mark Reuss, Mary Barra, Barra, Jeannine Ginivan, Stellantis, David Shepardson, Ben Klayman, Nick Zieminski, Deepa Babington Organizations: UAW, General Motors Detroit, Hamtramck, REUTERS, Rights, Detroit Three, United Auto Workers, autoworkers, General Motors, Ford Motor, Chrysler, Detroit, Anderson Economic Group, GM, Ford, CNN, Automotive, Business, Reuters, Thomson Locations: Hamtramck , Michigan, U.S, Stellantis, Michigan, Detroit, Washington

☆ The 4 key reasons why the UAW could strike GM, Ford and Stellantis this week
▼ + stars: | 2023-09-11 | by ( Chris Isidore | ) edition.cnn.com time to read: +9 min

He admits the union’s demands are “ambitious” but he insists they’re justified given the automakers’ strong profits in recent years. The automakers have balked at most of the union’s demands, according to the UAW. RaisesThe union demands an immediate 20% raise, and then four additional raises of 5% each. The UAW wants a return of traditional pension payment plans and retiree health care for all UAW members. GM put the cost of the six-week strike by the UAW in 2019 at $2.9 billion.

Persons: Shawn Fain, they’re, Fain, ”, Wheaton, It’s, Patrick Anderson, Anderson, ” Anderson, “, ” Wheaton, Cornell’s Wheaton, ’, What’s, Gavin Strassel, Walter Reuther Organizations: New, New York CNN, United Auto Workers, UAW, Ford, Jeep, Dodge, Chrysler, Cornell University’s, Industrial and Labor Relations, GM, Anderson Economic Group, Pensions, Workers, Big Three, Anderson Economic, Walter, Walter Reuther Library, Wayne State University, Hollywood Locations: New York, Buffalo, Michigan, Wheaton, Belvidere , Illinois, Stellantis, Ohio, Detroit

☆ Two neighboring Ohio factories - one new, one closed - could tell the future of US auto industry
▼ + stars: | 2023-09-09 | by ( Chris Isidore | ) edition.cnn.com time to read: +8 min

The Lordstown plant opened in 1966; GM closed it just months before its contract with the UAW expired in 2019. The former GM plant in Lordstown, Ohio. The Ultium plant, just over a third of the size of the closed Lordstown plant, started building batteries last August. Justin Brown’s father worked at the Lordstown plant for nearly nearly 50 years; Brown, for 10 years. Some Ultium workers said they took the lower-paying job with the expectation that they would someday make GM-level pay.

Persons: Lordstown, ”, David Green, Foxconn, Fisker, Chris Isidore, isn’t, Eric Manaro, “, EVs, Ultium, autoworkers, “ It’s, Justin Brown’s, Brown, “ I’m, George Goranitis, it’s Organizations: Ohio CNN, Lordstown Assembly, Pentagon, Motors, United Auto Workers, GM, UAW, EV, Lordstown Motors, CNN, Ohio Turnpike, ”, LG, Ultium, Ford, “, General Motors, Big Locations: Lordstown, Ohio, It’d, Indiana, Lordstown , Ohio, Missouri, Spring Hill , Tennessee, Spring, Ultium

☆ US says 52 million air bag inflators should be recalled over rupture threat
▼ + stars: | 2023-09-05 | by ( David Shepardson | ) www.reuters.com time to read: +3 min

WASHINGTON, Sept 5 (Reuters) - U.S. auto safety regulators said on Tuesday that 52 million air bag inflators produced by auto suppliers ARC Automotive and Delphi Automotive need to be recalled because they may rupture and send dangerous metal fragments flying. GM in May agreed to recall nearly 1 million vehicles with ARC air bag inflators after a rupture in March resulted in facial injuries to a driver. Delphi Automotive, acquired by Autoliv (ALV.N), manufactured approximately 11 million of the inflators through 2004 under a licensing agreement with ARC, which manufactured the remaining 41 million inflators. NHTSA has been scrutinizing air bag inflator ruptures for more than 15 years. Over the last decade, more than 67 million Takata air bag inflators have been recalled in the United States and more than 100 million worldwide, the biggest auto safety callback on record.

Persons: Autoliv, David Shepardson, Jonathan Oatis, Leslie Adler, Timothy Gardner Organizations: ARC Automotive, Delphi, Traffic Safety Administration, ARC, NHTSA, General Motors, Ford Motor, Toyota, Hyundai, Kia, Mercedes, Benz, BMW, Volkswagen, ARC inflators, GM, Delphi Automotive, Autoliv, Thomson Locations: United States, U.S

☆ Biden says he thinks US auto workers' strike unlikely to happen
▼ + stars: | 2023-09-04 | by ( Trevor Hunnicutt | ) www.reuters.com time to read: +2 min

[1/2] A United Auto Workers union member holds a sign outside Stellantis Sterling Heights Assembly Plant, to mark the beginning of contract negotiations in Sterling Heights, Michigan, U.S. July 12, 2023. REUTERS/Rebecca Cook/File Photo Acquire Licensing RightsPHILADELPHIA, Sept 4 (Reuters) - U.S. President Joe Biden said on Monday that he did not think workers at the nation's three large automakers were likely to go on strike, despite a looming contract deadline later this month. KEY QUOTE"I'm not worried about a strike," the Democratic president said on Monday as he arrived in Philadelphia ahead of a speech for the U.S. Labor Day holiday. THE TAKELate last month, the United Auto Workers union said its members voted overwhelmingly in favor of authorizing a strike at the Detroit Three automakers if agreement is not reached before the current four-year contract expires on Sept. 14. * The UAW staged a 42-day strike against GM in 2019 before reaching a new contract.

Persons: Rebecca Cook, Joe Biden, I'm, Shawn Fain, Trevor Hunnicutt, Kanishka Singh, Jasper Ward, Rosalba O'Brien Organizations: United Auto Workers, Sterling Heights Assembly, REUTERS, Rights, Democratic, U.S, Labor, Detroit Three, UAW, National Labor Relations Board, Motors, Chrysler, Ford Motor, GM, Thomson Locations: Sterling Heights, Sterling Heights , Michigan, U.S, Philadelphia, Detroit

☆ US unions have flexed their muscle this past year. Are they winning?
▼ + stars: | 2023-09-04 | by ( Chris Isidore | ) edition.cnn.com time to read: +7 min

New York CNN —Since last year’s Labor Day, US unions have flexed their muscle in a way not seen in decades. When including those smaller strikes, the total number of strikes in the past year increased to nearly 400. The United Mine Workers union never reached a deal on a new contract. The public also sees unions having more power than in the past, and they approve of that, according to the poll. More major strikes loomA number of major labor disputes are still looming.

Persons: They’ve, “ It’s, ”, Wheaton, “ You’ve, it’s, they’re, Biden, AFTRA Organizations: New, New York CNN, Labor, Cornell University’s Industrial, Labor Relations, Teamsters, UPS, Cornell University, Unions, Warrior, United Mine Workers, Congress, SAG, Writers Guild, Observers, Gallup, “ Labor, United Auto Workers, —, Motors, Ford, Jeep, Dodge, Chrysler, GM, Kaiser Permanente Locations: New York, Buffalo , New York, Los Angeles, New York City, Alabama

☆ Union alleges GM, Stellantis not bargaining in good faith
▼ + stars: | 2023-08-31 | by ( Chris Isidore | ) edition.cnn.com time to read: +5 min

The complaint accuses the automakers of not bargaining in good faith by not providing any response to the union’s economic demands at the bargaining table. Both GM and Stellantis, which makes vehicles under the Jeep, Ram, Dodge and Chrysler brands, deny the union’s charge that they are not bargaining in good faith. “We have been hyper-focused on negotiating directly and in good faith with the UAW and are making progress. It said it would pay workers far more than employees at the nonunion US auto plants operated by Tesla and foreign automakers. There are 145,000 UAW members at the nation’s three unionized automakers.

Persons: Shawn Fain, ” Fain, Todd Vachon, there’s, ”, Vachon, “ It’s, “ Stellantis, Fain’s, Fain, ” Gerald Johnson, ” Johnson, “, Ford Organizations: New, New York CNN — United Auto Workers, General Motors, Motors, Stellantis, CNN, Facebook, YouTube, National Labor Relations Board, Rutgers University, “, Jeep, Dodge, Chrysler, UAW, Ford, Tesla, GM Locations: New York

☆ US Department of Energy to put $12 billion into electric vehicle manufacturing, following Biden's goal of spurring EV sales
▼ + stars: | 2023-08-31 | by ( Clare Duffy | ) edition.cnn.com time to read: +2 min

New York CNN —The US Department of Energy said Thursday it plans to fuel the auto industry’s transition to electric vehicles with $12 billion in loans and grants. Hard on the heels of President Joe Biden’s goal to spur the sale of EVs in the United States, the Energy Department will provide $2 billion in grants and $10 billion in loans to support the conversion of US automaker and supplier facilities into manufacturing centers for hybrid and electric vehicles. The program aims to build or refurbish factories in communities with existing auto manufacturing facilities and to bolster the domestic EV supply chain. The Energy Department also said it plans to invest a separate $3.5 billion to boost US production of advanced batteries and battery materials to support the country’s transition to electric vehicles and clean energy. It also noted that light duty vehicles, the average cars Americans drive, account for 58% of those emissions.

Persons: Joe Biden’s, Biden, “, Jennifer Granholm, ”, Shawn Fain Organizations: New, New York CNN, US Department of Energy, Energy Department, ”, The Energy Department, United Auto Workers union, Biden Administration, UAW, Congressional Locations: New York, United States

☆ Buying a new car on a budget is more difficult than ever. Here are the 5 cheapest vehicles in the US.
▼ + stars: | 2023-08-23 | by ( Will Gendron | Associated Press | ) www.businessinsider.com time to read: +2 min

It is nearly impossible to purchase a new car for under $20,000 in the US. AdvertisementAdvertisementThose looking to buy a new car on a budget are in a worse position than they would have been just five years ago. With prices — new and used — having soared since the pandemic, $20,000 is no longer much of a starting price for a new car. (Though a few other new models have starting prices under $20,000, their actual purchase prices, with options and shipping, exceed that figure.) AdvertisementAdvertisementHere are the five new vehicles with the lowest average selling prices in the United States, according to Cox.

Persons: Michelle Krebs, Price, Tesla, Krebs, Cox Organizations: Mitsubishi, Morning, Cox Automotive Locations: United, United States

☆ US auto safety agency probes 2022 Ford Mach-E EV recall
▼ + stars: | 2023-08-21 | by ( ) www.reuters.com time to read: +1 min

The Ford logo is seen on the grill of an E-transit concept vehicle at the Ford Halewood transmissions plant in Liverpool, Britain, December 1, 2022. REUTERS/Phil Noble/File Photo Acquire Licensing RightsAug 21 (Reuters) - U.S. auto safety regulators said Monday they are investigating whether Ford Motor's (F.N) 2022 recall of nearly 49,000 Ford Mustang Mach-E electric vehicles adequately addressed concerns. Ford issued the 2022 recall because high voltage battery main contactors may overheat from DC fast-charging and repeated wide-open pedal events, which could result in an immediate loss of power, increasing the risk of a crash. Following the recall, Ford issued a technical service bulletin to replace the High Voltage Battery Junction Box on recalled vehicles. The National Highway Traffic Safety Administration said it has opened a recall query after receiving 12 consumer complaints regarding Mach-E vehicles that received recall fixes.

Persons: Phil Noble, Ford, David Shepardson, Jason Neely Organizations: Ford, REUTERS, High, Traffic Safety Administration, Thomson Locations: Liverpool, Britain

☆ Automakers are facing an uphill battle as inventory piles up and workers threaten to go on strike
▼ + stars: | 2023-08-17 | by ( Alexa St. John | ) www.businessinsider.com time to read: +5 min

After a few years of smooth-sailing, Detroit automakers are coming up against several challenges. A possible UAW strike, supply chain hurdles, and inventory building up threaten carmakers' peace. The peace that Detroit automakers have had over the past several months is getting interrupted — and car buyers and investors should brace themselves. Between dealer tensions, a potential United Auto Workers strike, and parts makers struggling, automakers face a rough time ahead. Second, Detroit 3 union workers are gearing up for a strikeA strike could threaten those companies' success in the latter half of the year.

Persons: carmakers, COVID, Ford, Martin French, Kelley, Peter Maithel Organizations: UAW, Morning, Detroit, Dealers, United Auto Workers, Cox Automotive, Chrysler, Dodge, GM, GMC, Buick, EV, Ford, Deutsche Bank Locations: Detroit

☆ UAW angrily tosses Stellantis contract offer in trash
▼ + stars: | 2023-08-08 | by ( ) edition.cnn.com time to read: +2 min

United Auto Workers (UAW) union President Shawn Fain angrily tossed contract proposals from Stellantis in a trash can on Tuesday, citing numerous concessions that the Chrysler parent is seeking in labor talks. “Management has chosen to spit in our faces.”During the chat Fain tossed a copy of the Stellantis proposal in a waste basket. Fain cited an Aug. 1 statement Stellantis made to Reuters that the automaker is “not seeking a concessionary agreement.”Stellantis did not comment. The UAW is also seeking to make all temporary workers at US automakers permanent, add a substantial increase in paid time off, and restore retiree health-care benefits and cost-of-living adjustments. The union also wants new limits on temporary workers.

Persons: Shawn Fain, “, ” Fain, Fain, ”, Stellantis, ” Stellantis Organizations: United Auto Workers, UAW, Chrysler, “, Reuters, Stellantis, General Motors, Ford

☆ Ford’s EV losses climb but overall profits rise
▼ + stars: | 2023-07-27 | by ( Chris Isidore | ) edition.cnn.com time to read: +6 min

Automotive revenue rose 12% to $42.4 billion, $2 billion more than forecasts. And those losses are going to rise, at least in the short term. In response, other automakers, including Ford, have responded with EV price cuts of their own. The current contract between the UAW and the “Big Three” unionized US automakers — Ford, General Motors and Stellantis — expires on Sept. 14. “When it comes to building in America and partnering with UAW, Ford stands out from all the other automakers, and most other major industrial companies,” he said.

Persons: Ford, EVs, Tesla, Jim Farley, ”, Farley, “, John Lawler, —, Sean Fain, Fain, ” Fain Organizations: New, New York CNN, Refinitiv, Ford, Ford Blue, Ford Pro, United Auto Workers, UAW, — Ford, General Motors, SK, GM, EV, Blue Locations: New York, America, EVs, Korean, American

☆ US auto sales expected to rise again in July - S&P Global Mobility
▼ + stars: | 2023-07-24 | by ( ) www.reuters.com time to read: +1 min

July 24 (Reuters) - New U.S. light vehicle sales volumes are set to rise again in July as easing supply-chain snags help automakers ramp up production to meet pent-up demand, automotive research firm S&P Global Mobility said on Monday. S&P projects new light vehicle sales to reach 1.33 million units in July, up 18% year-over-year. It also upgraded the 2023 U.S. light vehicle sales forecast to 15.4 million units, from 15.1 million estimated earlier. Top global automakers have reported a rise in second-quarter new vehicle sales on improving supply and strong demand, signaling that rising interest rates are yet to have a meaningful impact on purchases. "New light vehicle sales will continue to progress in July, reflecting the current trend of sustained demand levels to the fleet sector while retail sales continue to climb," said Chris Hopson, principal analyst at S&P Global Mobility.

Persons: Chris Hopson, Kannaki, Devika Organizations: P Global Mobility, Thomson Locations: New U.S, U.S, Bengaluru

[1/2] United Auto Workers President Shawn Fain greets workers at the Stellantis Sterling Heights Assembly Plant, to mark the beginning of contract negotiations in Sterling Heights, Michigan, U.S. July 12, 2023. REUTERS/Rebecca Cook/File PhotoDETROIT, July 13 (Reuters) - United Auto Workers President Shawn Fain is not a shouter. When he addresses union members in Facebook videos, or appears in public, he rarely raises his voice. "The only real limits we have are the ones we place on ourselves," he told union members in a video address on Tuesday. LONG-TERM TECHNOLOGY THREATSThe UAW president is unsparing in criticism of his immediate predecessors - two of whom, Dennis Williams and Gary Jones, were convicted of corruption.

Persons: Shawn Fain, Rebecca Cook, Fain, I’ve, Malcolm X, Bernie Sanders, Dennis Williams, Gary Jones, “ We’re, Matt Frantzen, “ He’s, Frantzen, Tesla, Peter Berg, Joe White, Ben Klayman, Bianca Flowers, David Shepardson, Matthew Lewis Organizations: United Auto Workers, Sterling Heights Assembly, REUTERS, DETROIT, UAW, Detroit, General Motors, Ford, EV, GM, Teamsters, United Parcel Service, Toyota, Michigan State University, Thomson Locations: Sterling Heights, Sterling Heights , Michigan, U.S, Washington, Belvidere , Illinois, Hollywood, California, Detroit, Chicago

☆ UAW head says it’s prepared to strike against Big Three automakers as negotiations start Thursday
▼ + stars: | 2023-07-12 | by ( Vanessa Yurkevich | ) edition.cnn.com time to read: +3 min

New York CNN —Ahead of contract negotiations set to begin Thursday, the head of the United Auto Workers union says they are declared that it’s prepared to strike against the Big Three US automakers. In a Facebook address to UAW members Tuesday, UAW President Shawn Fain said nearly 150,000 members will strike if Ford, Stellantis and General Motors do not meet their demands. And whether or not there’s a strike — it’s up to Ford, General Motors, and Stellantis, because they know what our priorities are. The UAW opens auto contract negotiations with Stellantis today, Ford on July 14, and General Motors on July 18. The last auto workers strike was in 2019, when 48,000 UAW members at General Motors walked off the job for six weeks.

Persons: it’s, Shawn Fain, Ford, We’ve, ”, Fain, Stellantis, we’re, Bill Pugliano, Jim Farley, Gerald Johnson, “, “ They’ve Organizations: New, New York CNN, United Auto Workers, Big Three, UAW, General, General Motors, Motors, Sterling Heights Assembly, Ford Locations: New York, Sterling Heights, Sterling Heights , Michigan, Stellantis

☆ Chinese automakers are winning in a key area that will make it even harder for American competitors to catch up
▼ + stars: | 2023-07-06 | by ( Alexa St. John | ) www.businessinsider.com time to read: +5 min

Chinese automakers have a better handle on what their customers want than other car companies. Chinese automakers know what their customers want better than others — and that's why they're likely to beat out rival car companies, especially those from the US. Chinese auto players are already growing rapidly: They're expected to outsell foreign brands in China for the first time this year. "This freshness is a really critical buying factor for Chinese brands," Dyer said. "They will become bigger and stronger competitors and players — potentially, a source of disruption for some of the mature market automakers," Dyer added.

Persons: AlixPartners, That's, Stephen Dyer, Dyer, Li Organizations: US, Asia Automotive, Ford, GM, Volkswagen Locations: China, AlixPartners, Japan, Germany, Korea

CNN —The White House is closely monitoring the upcoming labor talks in the US auto industry, negotiations that could put it at odds with the traditional support of a major union. “As a White House point person on key issues related to the UAW and Big Three, Sperling will help ensure Administration-wide coordination across interested parties and among White House policymakers,” a White House official confirmed to CNN. Sperling, the official added, “will work hand-in-glove with Acting [Labor] Secretary Julie Su on all labor-related issues.” He will need to coordinate across multiple White House offices and other stakeholders across government for this new task. So the shift to EVs, supported by the Biden administration, is a major concern of the UAW heading into these talks. The current UPS contract expires July 31, and the union rank and file has already authorized an August 1 strike without a new deal.

Persons: Joe Biden, Gene Sperling, Sperling, Carter, Obama, Biden, ”, “, Julie Su, Liz Shuler, ” Sperling, Bill Clinton, Barack Obama Organizations: CNN, United Auto Workers, UAW, Big, White House, Labor, White, General Motors, Ford, Dodge, Chrysler, GM, Anderson Economic Group, AFL, UPS, Teamsters, Treasury Department, National Economic Locations: Michigan, Detroit

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