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Fain says the targeted strikes will give the union leverage in contract talks and keep the auto companies guessing about the UAW’s next move. Currently, UAW workers hired after 2007 don’t receive defined-benefit pensions. If a walkout occurs, workers would receive about $500 a week in strike pay — far short of what they earn while they’re working. During a 40-day UAW strike in 2019, GM alone lost $3.6 billion. The union’s inability to organize U.S. factories run by foreign automakers represents a disadvantage for the union because those companies pay less than Detroit companies do.

Persons: Shawn Fain, Fain, Motors, They’ve, Mary Barra, ” Ford, ” Fain, “, that’s, Sam Fiorani, ” Fiorani Organizations: DETROIT, — Auto, General Motors, Ford, United Auto Workers, UAW, Detroit, GM, Fiat Chrysler, AutoForecast Solutions, Anderson Economic, UPS, Teamsters, Cornell University Locations: United States, Korean, Stellantis, Detroit, Europe, Asia, U.S, Midwest, That’s, —

☆ Detroit Three strike deadline nears as sides remain far apart
▼ + stars: | 2023-09-14 | by ( David Shepardson | ) www.reuters.com time to read: +4 min

[1/4] "UAW on strike" picket signs lay on a pile of wood outside the General Motors Detroit-Hamtramck Assembly in Hamtramck, Michigan, U.S. October 25, 2019. "To win, we're likely going to have to take action," UAW President Shawn Fain said on Wednesday. Fain said it was still possible that at a later date all of the auto workers could strike. Some losses could be recouped by boosting production schedules after a strike, but that possibility fades as a strike extends to weeks or months. That is less than half the pay hikes the union has sought, but higher than companies initial offers.

Persons: Rebecca Cook, we're, Shawn Fain, Fain, Joe Biden, Jared Bernstein, Stellantis, Ford, Bernie Sanders, David Shepardson, Peter Henderson, Jamie Freed Organizations: UAW, General Motors Detroit, Hamtramck, REUTERS, U.S ., United Auto Workers, Detroit, Deutsche Bank, Biden, Ford, General Motors, Chrysler, GM, Thomson Locations: Hamtramck , Michigan, U.S, Detroit

"We are preparing to strike these companies in a way they have never seen before." Fain said the Detroit Three automakers had offered 146,000 U.S. autoworkers pay raises of as much as 20% over four and a half years but called the hikes inadequate. 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. The UAW is considering initially targeting only some specific plants for work stoppages at the Detroit automakers, two sources briefed on the matter said, adding the strike plan could still change. Targeting strategic plants could quickly force automakers to halt U.S. production and could extend the time before the UAW's $825 million strike fund is exhausted.

Persons: we're, Shaw Fain, Fain, Stellantis, Joe Biden, Jared Bernstein, Biden, Bernstein, Liz Shuler, Reuters autoworkers, Shuler, Bernie Sanders, David Shepardson, Nick Zieminski, Deepa Babington, Chris Reese Organizations: United Auto Workers, Detroit Three, UAW, Detroit, Ford, General Motors, Chrysler, Anderson Economic Group, AFL, Reuters, GM, Detroit automakers, Thomson Locations: Michigan, United States, DETROIT

☆ UAW president says union is still seeking big pay hikes
▼ + stars: | 2023-09-13 | by ( David Shepardson | ) www.reuters.com time to read: +4 min

Sept 13 (Reuters) - United Auto Workers (UAW) President Shawn Fain said on Wednesday the union is still seeking significant pay hikes as talks continue with the Detroit Three automakers, a day before four-year labor deals are set to expire. Reuters reported late on Tuesday that the union may opt to strike at targeted auto plants if they fail to reach new contracts covering 146,000 U.S. auto workers. The UAW initially sought a 20% wage hike upon ratification and four annual 5% hikes, but had offered trim those hikes to around 36% in total, three sources told Reuters. Fain said the union was still seeking 40% hikes in total. 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.

Persons: Shawn Fain, Fain, We've, Stellantis, We’re, Joe Biden, Jared Bernstein, Biden, Bernstein, Liz Shuler, Shuler, Bernie Sanders, David Shepardson, Christina Fincher, Nick Zieminski Organizations: United Auto Workers, UAW, Detroit Three, ABC News, General Motors, Ford Motor, Chrysler, Reuters, GM, Detroit, Anderson Economic Group, AFL, CNBC, Ford, Thomson Locations: Michigan, United States, DETROIT

☆ UAW president says union still seeking big pay hikes
▼ + stars: | 2023-09-13 | by ( David Shepardson | ) www.reuters.com time to read: +3 min

Sept 13 (Reuters) - United Auto Workers (UAW) union President Shawn Fain said on Wednesday the union is still seeking significant pay hikes as talks continue with the Detroit Big Three automakers, a day before four-year labor deals are set to expire. The UAW initially sought a 20% wage hike upon ratification and four annual 5% hikes, but had offered trim those hikes to around 36% in total, three sources told Reuters. Fain said the union was still seeking 40% hikes in total. Ford last week hiked its offer to a 10% wage hike and lump sum payments after offering a 9% wage increase through 2027 and 6% lump sum payments. 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.

Persons: Shawn Fain, Fain, We've, Bernie Sanders, Stellantis, David Shepardson, Christina Fincher, Nick Zieminski Organizations: United Auto Workers, UAW, Detroit Big, ABC News, GM, General Motors, Ford Motor, Chrysler, Reuters, Detroit, CNBC, Ford, Anderson Economic Group, Thomson Locations: Michigan

☆ Jim Cramer says 'watch Ford as a barometer' of potential United Auto Workers strike risk
▼ + stars: | 2023-09-13 | by ( Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com time to read: +1 min

Ford Motor 's (F) stock may offer clues into Wall Street's current attitude toward potential strikes by the United Auto Workers union, CNBC's Jim Cramer said Wednesday. The UAW has been negotiating new contracts for its 146,000 members with the three Detroit automakers — Ford, General Motors (GM) and Jeep-owner Stellantis (STLA). "I want to watch Ford as a barometer," Cramer said on "Squawk on the Street." The UAW also may decide to implement targeted strikes at certain plants, CNBC reported Tuesday night, citing union officials. In an interview earlier Wednesday on CNBC, UAW President Shawn Fain was asked whether Ford, which employs the most UAW members of the Detroit Three, was the least likely to be struck.

Persons: CNBC's Jim Cramer, —, Stellantis, Ford, Cramer, Jim Cramer's, he's, Shawn Fain, Fain Organizations: Ford, United Auto Workers, UAW, Detroit, — Ford, General Motors, CNBC, Cramer's Charitable Trust, Club, UBS, GM Locations: Cramer's

☆ Strike looms as talks between UAW, Detroit Three drag on
▼ + stars: | 2023-09-12 | by ( ) www.reuters.com time to read: +1 min

[1/4] Jeep Cherokee SUV's and Ram trucks fill the parking lot at the Stellantis plant that was idled in February 2023, in Belvidere, Illinois, U.S., June 27, 2023. REUTERS/Bianca Flowers Acquire Licensing RightsSept 12 (Reuters) - The United Auto Workers (UAW) union has warned of a coordinated strike against the Detroit Three automakers, if an agreement is not reached on a new contract covering some 150,000 workers. Negotiations over a new deal began in July but the three automakers - General Motors (GM.N), Ford Motor (F.N) and Chrysler-parent Stellantis (STLAM.MI) - and the UAW have made little headway on the terms of the contract. ET on Sept. 14 (0359 GMT the next day). Here is a timeline of events beginning with the election of the new UAW chief in March:Reporting by Ananta Agarwal in Bengaluru; Editing by Anil D'SilvaOur Standards: The Thomson Reuters Trust Principles.

Persons: Bianca Flowers, Ananta Agarwal, Anil D'Silva Organizations: REUTERS, United Auto Workers, UAW, Detroit Three, General Motors, Ford Motor, Chrysler, Thomson Locations: Belvidere , Illinois, U.S, Bengaluru

☆ From UPS to Detroit Three automakers, US labor unions flex muscle
▼ + stars: | 2023-09-12 | by ( ) www.reuters.com time to read: +4 min

AIRLINES & AEROSPACE FIRMSPilots at several airlines including American Airlines (AAL.O), Delta Airlines (DAL.N), United Airlines Holdings (UAL.O), Spirit Airlines (SAVE.N), Jetblue Airways (JBLU.O) negotiated new job contracts this year. AUTOMOTIVEUnited Auto Workers (UAW) union has been embroiled in a dispute over wages and pension plans with the Detroit Three automakers. U.S. Steel (X.N), which is reviewing multiple proposals ranging from partial acquisition to an entire buyout, is embroiled in a tussle with the United Steel Workers union. Labor unions secured new contract agreements at multistate operator-owned cannabis dispensaries in Illinois and in New Jersey in July. If workers do not vote to ratify the contract, the union will vote the following week on whether to strike.

Persons: Sergio Martinez, Mike Blake, Mrinalika Roy, Sriraj Kalluvila, Shounak Organizations: REUTERS, Bureau of Labor Statistics, Reuters, Hollywood, United Parcel Service, FedEx, Pilots, AIRLINES & AEROSPACE, American Airlines, Delta Airlines, United Airlines Holdings, Spirit Airlines, Jetblue Airways, Southwest Airlines Pilots Association, United Auto Workers, UAW, Detroit Three automakers, Cliffs Inc, United Steelworkers, U.S . Steel, United Steel Workers, Workers, Green Thumb Industries, Labor, Phillips, Thomson Locations: Los Angeles , California, U.S, California, Wichita , Kansas, Cleveland, Los Angeles, New York City, Chicago, Illinois, New Jersey, Roxana , Illinois, Bengaluru

☆ 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

☆ UAW says some progress in labor talks but wide divide remains
▼ + stars: | 2023-09-11 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

"We've made some progress, a little bit of progress but it's still slow but we're moving," Fain told CNN. GM made a new offer to the UAW over the weekend, but the details were not immediately available. Stellantis said Friday it had offered U.S. hourly workers a 14.5% wage hike over four years. GM said Thursday it offered workers a 10% wage hike and two additional 3% annual lump-sum payments over four years. Stellantis previously offered $10,500 in inflation protection payments over the four years, while GM is offering $11,000 and Ford $12,000.

Persons: Shawn Fain, We've, Fain, Stellantis, David Shepardson, Nick Zieminski, Leslie Adler Organizations: United Auto Workers, Detroit Three, UAW, CNN, Chrysler, General Motors, Ford, GM, Reuters, Detroit, Thomson Locations: Stellantis

☆ Potential UAW strike could cut production, push up vehicle prices, analysts say
▼ + stars: | 2023-09-11 | by ( Priyamvada C | ) www.reuters.com time to read: +3 min

Sept 11 (Reuters) - A prolonged coordinated strike by the United Auto Workers (UAW) union against the Detroit Three automakers could cut production by thousands, potentially pushing up vehicle prices and exacerbating supply-chain disruptions, analysts said. New vehicle prices may rise by less than 2% if the strike lasts about two weeks, according to automotive consulting firm J.D. That would mean an end to the trend of cooling vehicle prices in recent months, at a time when inflation continues to pinch U.S. consumers. However, UAW president Shawn Fain rejected the idea that worker wages were responsible for auto prices going up in the last few years. In a video released on Thursday titled "Here's what the Big Three and the corporate media's NOT telling you about car prices," Fain said "corporate greed" was responsible for rising car prices.

Persons: Tyson Jominy, Jominy, Garrett Nelson, J.P, Morgan, Jimmy Bhullar, Jim, Farley, Mary, Barra, Dan Ives, Tesla, Bryan DeBoer, Shawn Fain, Fain, Priyamvada C, Nathan Gomes, Abhijith, Anil D'Silva Organizations: United Auto Workers, UAW, Detroit Three, General Motors, Ford Motor, Toyota, Honda, Volkswagen, Deutsche Bank, GM, Ford, Lithia Motors, Thomson Locations: ., U.S, Bengaluru

☆ UAW ready to negotiate around the clock as strike deadline nears
▼ + stars: | 2023-09-11 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

"Despite receiving no response for over a month, when the CEOs are ready to make a serious offer we'll be there, day or night." GM made a new offer to the UAW over the weekend, but the details were not immediately available. Stellantis said Friday it had offered U.S. hourly workers a 14.5% wage hike over four years, much less than the 46% wage hike the union initially sought. GM said Thursday it offered workers a 10% wage hike and two additional 3% annual lump-sum payments over four years. Stellantis previously offered $10,500 in inflation protection payments over the four years, while GM is offering $11,000 and Ford $12,000.

Persons: Shawn Fain, Fain, UAW bargainers, Stellantis, David Shepardson, Nick Zieminski Organizations: United Auto Workers, Detroit, Chrysler, UAW, General Motors, Ford, GM, Reuters, Thomson Locations: Detroit, Stellantis

☆ Explainer: Auto industry on tenterhooks ahead of potential UAW strike against 'Detroit Three'
▼ + stars: | 2023-09-11 | by ( Nathan Gomes | ) www.reuters.com time to read: +5 min

Ford's annual filing showed about 57,000 of its hourly employees in the United States were represented by the UAW, while the UAW represents about 43,000 U.S. hourly workers at Stellantis. Stellantis last week offered its U.S. hourly workers a 14.5% wage hike over four years, but no lump sum payments. Fain also is aiming to get agreements that would allow the UAW to represent hourly workers at joint-venture EV battery plants opened or planned by the Detroit Three. In fiscal 2019, GM's fourth-quarter profit took a $3.6 billion hit from a 40-day UAW strike that shut down its profitable U.S. operations. Contract talks between the UAW and the Detroit automakers have gone on till the strike deadline and beyond in past years.

Persons: Rebecca Cook, Shawn Fain, Stellantis, it's, Fain, Biden, Tesla, GM's, Chris McNally, Nathan Gomes, Ben Klayman, Shounak Dasgupta Organizations: REUTERS, United Auto Workers, UAW, Detroit Three, General Motors, Ford, Chrysler, Detroit, WHO, GM, Stellantis, FROM, Facebook, EV, Lear Corp, Detroit automakers, Anderson Economic Group, Thomson Locations: Auburn Hills , Michigan, U.S, United States, Stellantis, Bengaluru, Ben, Detroit

☆ Auto workers reject Detroit Three contract offers, ready to strike
▼ + stars: | 2023-09-09 | by ( David Shepardson | ) www.reuters.com time to read: +4 min

Contract talks between the UAW and the Detroit automakers have gone to the strike deadline and beyond in years past. Stellantis said on Friday it offered U.S. hourly workers a 14.5% wage hike over four years but no lump sum payments. The UAW said the GM and Ford offers would change the formula for calculating profit-sharing, and if it had been in effect last year GM workers would have received 29% less and Ford workers 21%. A UAW strike that shuts the Detroit Three manufacturers could cost carmakers, suppliers and workers over $5 billion, the Michigan-based Anderson Economic Group estimated. GM recorded a $3.6 billion pre-tax loss in 2019 after UAW members went on strike for six weeks, the longest walkout against a Detroit automaker since 1970.

Persons: Rebecca Cook, Shawn Fain, Fain, it's, Ford, Stellantis, Mark Stewart, David Shepardson, Joseph White, Jonathan Oatis, Will Dunham Organizations: REUTERS, United Auto Workers, Detroit, Motors, Ford, Chrysler, Facebook, UAW, Detroit automakers, GM, Anderson Economic Group, Thomson Locations: Auburn Hills , Michigan, U.S, America, Stellantis, Michigan, Washington, Detroit

☆ UAW union embraces social media as labor talks toughen ahead of deadline
▼ + stars: | 2023-09-09 | by ( Bianca Flowers | Thomson Reuters | Bianca Flowers Is An Award-Winning Multimedia Journalist Based In Chicago Where She Reports On The Backbone Of The U.S. Labor Market. She Covers Agriculture | ) www.reuters.com time to read: +4 min

United Auto Workers President Shawn Fain greets UAW autoworkers, 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 Photo Acquire Licensing RightsSept 9 (Reuters) - The United Auto Workers union is leveraging the power of social media to attract public support in demanding substantial wage increases for hourly workers as a deadline looms with the Detroit Three automakers. On Friday, he said the UAW was prepared to strike all three companies if no deals are reached. "What we've seen is the new president of the UAW taking an offer from the automakers and throwing it in a wastebasket on social media. This week, the UAW released a video in an effort to save a shuttered Stellantis plant in the northern Illinois town of Belvidere.

Persons: Shawn Fain, Rebecca Cook, Shawn Fain hasn't, Daniel Ives, Fain, He's, Harley Shaiken, Brian Rothenberg, Tesla, there's, Matt Frantzen, he's, Bianca Flowers, Leslie Adler Organizations: United Auto Workers, UAW, Sterling Heights Assembly, REUTERS, Detroit Three, Motors, Ford, Facebook, Twitter, University of California, Auto, Thomson Locations: Sterling Heights, Sterling Heights , Michigan, U.S, Berkeley, Illinois, Belvidere, Stellantis, Chicago

☆ Chrysler parent Stellantis offers 14.5%, 4-year wage hike to hourly workers
▼ + stars: | 2023-09-08 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

REUTERS/Rebecca Cook/File Photo Acquire Licensing RightsSept 8 (Reuters) - Chrysler parent Stellantis (STLAM.MI) said Friday it offered U.S. hourly workers a 14.5% wage hike over four years in its offer to the United Auto Workers union ahead of a Sept. 14 contract expiration. The offer is much less than the 46% wage hike being sought by the union. General Motors (GM.N) said Thursday it had offered workers a 10% wage hike and two additional 3% annual lump-sum payments over four years. The Stellantis offer - which did not specify how the 14.5% wage increase would be distributed over four years - is similar to GM and Ford's offers. Stellantis is offering $10,500 in inflation protection payments over the four years, while GM is offering $11,000 and Ford $12,000.

Persons: Rebecca Cook, Stellantis, Mark Stewart, Shawn Fain, David Shepardson, Jonathan Oatis Organizations: REUTERS, Chrysler, United Auto Workers, UAW, General Motors, Ford, GM, Ford's, Detroit Three, Thomson Locations: Auburn Hills , Michigan, U.S, America

☆ Factbox: Impact of possible strikes on Detroit Three automakers
▼ + stars: | 2023-09-08 | by ( ) www.reuters.com time to read: +3 min

A strike would ground production to a halt, costing billions of dollars in losses for automakers as well as their suppliers. UAW workers have struck work for two days at GM and for one day at Chrysler in 2007. Prior to 1976, strikes were frequently used as a bargaining tool at Detroit Three. STRIKE IMPACTThe Detroit Three automakers account for about 40% of U.S. new light vehicle sales by units, according to J.P. Morgan. STRIKE TOLLTen-day strikes at all three automakers could cost manufacturers, workers, suppliers and dealers more than $5 billion, according to economic consulting firm Anderson Economic Group.

Persons: Rebecca Cook, Kristin Dzizcek, Morgan Stanley, Morgan, Sam Fiorani, Anderson, Mehr Bedi, Nathan Gomes, Joe White, Anil D'Silva Organizations: General Motors, REUTERS, Ford Motor, UAW, DETROIT, United Auto Workers, Detroit Three, GM, Ford, Chrysler, Chicago Federal Reserve, Detroit, IHS, AutoForecast Solutions, Intelligence, Deloitte, Alliance for Automotive Innovation, Anderson Economic, Deutsche Bank Research, Thomson Locations: Detroit , Michigan, U.S, United States, Bengaluru, Detroit

☆ GM and Ford are facing a 'nightmare situation' that could be great news for Tesla
▼ + stars: | 2023-09-08 | by ( Nora Naughton | ) www.businessinsider.com time to read: +3 min

Tesla is already having a banner year for both sales and production. This is all "a potential nightmare situation for GM and Ford," Wedbush analyst Dan Ives said in a note to clients this month. AdvertisementAdvertisement"Tesla does not face similar issues which speaks to the complexity both GM and Ford face going up against the EV leader Tesla, while trying to satisfy rising union demands," Ives said. "If a strike happens then ultimately production and the EV roadmap could be pushed out into 2024 and delays would be on the horizon at this crucial period for GM, Ford, and Stellantis." Raising the stakes for GM and Ford: Tesla is already having a banner year for both sales and production, on track to hit its nearly 2 million-unit production target by the end of the year.

Persons: Tesla, Stellantis, Dan Ives, Ives, Farley, Elon, Barra Organizations: Detroit, Service, United Auto Workers union, UAW, Ford, General Motors, GM, Tesla, EV, Tesla Ford Locations: Wall, Silicon

☆ Ford raises pay for 8,000 UAW workers in line with 2019 contract
▼ + stars: | 2023-09-07 | by ( ) www.reuters.com time to read: +1 min

DETROIT, Sept 7 (Reuters) - Ford Motor Co (F.N) said about 8,000 U.S. workers represented by the United Auto Workers union will get an average $4.33 an hour in additional pay under provisions of the current contract agreed in 2019. Ford announced the pay increases as talks with the UAW for a new contract are headed for a Sept. 14 strike deadline. The union has rejected Ford's recent wage increase proposals as inadequate. Under Ford's 2019 contract, permanent hourly manufacturing employees were eligible for a pay increase if they were hired prior to the 2019 contract effective date and were earning at least $24.40 per hour as of Sept. 1, 2023, the company said in a statement. Reporting by Joe White; editing by Jason NeelyOur Standards: The Thomson Reuters Trust Principles.

Persons: Ford, Joe White, Jason Neely Organizations: DETROIT, Ford Motor, United Auto Workers, Ford, UAW, Detroit Three, automakers, Thomson

☆ Potential UAW strike presents a near-term headwind for auto insurers - JPM
▼ + stars: | 2023-09-07 | by ( Reshma Rockie George | ) www.reuters.com time to read: +2 min

A view of the exterior of the JP Morgan Chase & Co. corporate headquarters in New York City May 20, 2015. REUTERS/Mike Segar/File Photo Acquire Licensing RightsSept 7 (Reuters) - J.P.Morgan on Thursday said supply chain disruptions from a potential United Auto Workers (UAW) union strike would cut new vehicle production, drive up used car prices and put pressure on margins in the personal auto insurance business. The automakers "represent about 40% of light vehicle auto sales (by units) in the U.S., and IHS Markit estimates that a strike would disrupt North American vehicle production by roughly 75%," J.P.Morgan said. The brokerage identifies Allstate Corp (ALL.N) and Progressive Corp (PGR.N) as the insurers with the most exposure to a potential UAW strike, with Allstate more susceptible due to its weaker capital position. Used-car prices have had the most impact on auto margins in recent years compared to other factors such as higher spare part costs, labor costs, increased litigation, and severe accidents, the brokerage added.

Persons: Morgan Chase, Mike Segar, J.P.Morgan, Jimmy Bhullar, Reshma Rockie, Tasim Zahid Organizations: Co, New York City, REUTERS, United Auto Workers, UAW, Detroit Three, Ford, Chrysler, General Motors, Allstate Corp, Progressive Corp, Allstate, Anderson Economic Group, Thomson Locations: New York, U.S, Michigan, Reshma Rockie George, Bengaluru

☆ Car deals just came back, but they will dry up if auto workers go on strike
▼ + stars: | 2023-09-07 | by ( Alexa St. John | Nora Naughton | ) www.businessinsider.com time to read: +6 min

A strike could impact the inventory and deals that car buyers get from Ford, GM, and Stellantis. But a looming strike by the United Auto Workers could throw the market back into some disarray, automotive industry and manufacturing experts told Insider. AdvertisementAdvertisementExperts say a potential strike would mean sinking levels of inventory and fewer deals car buyers could get in the fourth quarter — especially if the strike goes on for a while. What customers should look out for if there's a strikeThe amount of vehicle supply at dealerships across the country this year has been interesting to watch. It wasn't until the months leading up to the 2020 Covid pandemic that GM dealers started running low.

Persons: Stellantis, isn't, there's, Ford, Sam Fiorani, Fiorani Organizations: United Auto Workers, Detroit, Ford, GM, Service, Deutsche Bank, Cox Automotive, UAW, Detroit automakers, AutoForecast Solutions, Toyota, Honda Locations: Wall, Silicon, Detroit

☆ UAW makes contract counteroffer to Ford; Stellantis to make offer
▼ + stars: | 2023-09-06 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

Last week, Ford said it had offered a 9% wage increase through 2027, much less than the 46% wage hike being sought by the union. Stellantis said Wednesday it intends to give the UAW a counter offer on the union's economic demands by the end of the week. The UAW declined to comment on its proposal it made to Ford. Ford said Wednesday it continues to negotiate with the UAW but declined to comment on the details of the talks. Ford said it would boost starting pay for temporary workers to $20 an hour, up 20%, and offer permanent employees $12,000 in cost-of-living adjustments over the contract.

Persons: Brendan McDermid, Ford, Stellantis, David Shepardson, Jonathan Oatis, David Gregorio Our Organizations: Ford, REUTERS, United Auto Workers, Wednesday, Ford Motor, Chrysler, Detroit Three, UAW, General Motors, Reuters, National Labor Relations Board, GM, U.S, Thomson Locations: New York City, 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

☆ UAW files unfair labor practice charges against GM, Stellantis
▼ + stars: | 2023-09-01 | by ( David Shepardson | ) www.reuters.com time to read: +4 min

Both GM and Stellantis denied the unfair labor charges. Fain said the Detroit automakers want the ability to close U.S. auto plants and move them to low-wage countries, adding that threats by the automakers to close U.S. plants are "economic terrorism." The current four-year labor agreements covering 146,000 workers at the Detroit Three automakers expire on Sept. 14. Stellantis said it was shocked by the UAW claims "that we have not bargained in good faith. Stellantis also said it was disappointed that Fain "is more focused on filing frivolous legal charges than on actual bargaining."

Persons: Rebecca Cook, Stellantis, Shawn Fain, Fain, Ford, Gerald Johnson, Johnson, David Shepardson, Chris Reese, Leslie Adler Organizations: General Motors, REUTERS, United Auto Workers, National Labor Relations, Chrysler, Ford, Reuters, Detroit automakers, Tesla, Detroit, UAW, U.S, Thomson Locations: Detroit , Michigan, U.S

☆ UAW files unfair labor practice against GM, Stellantis
▼ + stars: | 2023-09-01 | by ( David Shepardson | ) www.reuters.com time to read: +3 min

REUTERS/Rebecca Cook/File Photo Acquire Licensing RightsAug 31 (Reuters) - The United Auto Workers union said on Thursday it filed unfair labor practice charges with the National Labor Relations Board against General Motors (GM.N) and Chrysler-parent Stellantis (STLAM.MI), saying they have refused to bargain in good faith. Both GM and Stellantis denied the unfair labor charges. The current four-year labor agreements covering 146,000 workers at the Detroit Three automakers expire on Sept. 14. Stellantis said it was shocked by the UAW claims "that we have not bargained in good faith. GM manufacturing chief Gerald Johnson said the company strongly refuted the unfair labor charge.

Persons: Rebecca Cook, Stellantis, Shawn Fain, Fain, Ford, Gerald Johnson, Johnson, David Shepardson, Chris Reese, Leslie Adler Organizations: Ford Rouge Electric Vehicle, REUTERS, United Auto Workers, National Labor Relations, General Motors, Chrysler, Ford, UAW, Detroit automakers, Tesla, Detroit, U.S, Thomson Locations: Dearborn , Michigan, U.S

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