This market is actually quite resilient, says Lithia & Driveway CEO Bryan DeBoerLithia & Driveway CEO Bryan DeBoer talks the state of the auto market, vehicle inventory, quarterly results and more.
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Bryan DeBoer
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.
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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'SilvaOrganizations:United Auto Workers, UAW, Detroit Three, General Motors, Ford Motor, Toyota, Honda, Volkswagen, Deutsche Bank, GM, Ford, Lithia Motors, ThomsonLocations:., U.S, Bengaluru