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☆ Americans just can’t quit their giant, gas-burning trucks
▼ + stars: | 2024-08-07 | by ( Chris Isidore | ) edition.cnn.com time to read: +7 min

A ‘harsh reality’ for EVsFord likes to brag about its growing EV sales, but its profit is still primarily coming from the sales of gasoline powered trucks and SUVs. Ford isn’t the only automaker pulling back on its EV plans and making new investment in ICE vehicles. This is not to say that the traditional automakers are dropping their EV plans altogether or that EV sales are falling. But EV sales, which initially grew at a double-digit pace, haven’t shot up exponentially as automakers hoped or expected. That uncertainty about the future of US EV incentives prompted automakers to reconsider their earlier EV plans.

Persons: Ford, ” Ford, Jim Farley, hasn’t, EVs Ford, ”, Ivan Drury, Mary Barra, EVs, Stellantis, haven’t, Tesla, Donald Trump, Elon Musk, Carlos Tavares Organizations: New, New York CNN, EVs, Canadian, Ford, Super, Kentucky, Super Duty, Ford’s, Ford Expedition, GM, ICE, United Auto Workers, “ Locations: New York, Oakville , Ontario, Toronto, Mexico, Oakville, Kentucky, Ohio, EVs, United States, Edmunds, North America, Europe

☆ United Auto Workers union and Ford reach tentative labor agreement
▼ + stars: | 2023-10-25 | by ( Vanessa Yurkevich | Chris Isidore | ) edition.cnn.com time to read: +1 min

CNN —Ford and the United Auto Workers union reached a tentative labor deal, according to a person familiar with the matter. It is an important first step in ending the union’s unprecedented strike against three major US automakers. Neither Ford nor the UAW had an official announcement, but word of the deal is expected shortly. But it will step up pressure on those two automakers to reach their own deal with the union. There are currently 16,600 UAW members on strike at three Ford assembly plants, including its largest, the Kentucky Truck Plant in Louisville.

Persons: CNN — Ford Organizations: CNN, United Auto Workers, Ford, UAW, General Motors, Kentucky, Plant Locations: Louisville

A newly remodeled Ford F250 Super Duty truck is displayed at the new Louisville Ford truck plant in Louisville, Kentucky, U.S. September 30, 2016. UAW President Shawn Fain on Wednesday ordered a strike at Ford's Kentucky Truck factory after Ford negotiators did not present a richer contract proposal. About 4,600 Ford workers could be idled because their jobs depend on production of Super Duty pickups and large Lincoln and Ford SUVs at Kentucky Truck, said Ford manufacturing vice president Bryce Currie. Already, 13,000 workers at Ford suppliers have been furloughed because of earlier UAW walkouts at two Ford assembly plants, Ford supply chain chief Liz Door said. Fain and other UAW officials called a meeting with Ford at on Wednesday evening and demanded a new offer, which Ford did not have, a Ford official said.

Persons: Bryan Woolston, Kumar Galhotra, Ford, Galhotra, Shawn Fain, Here’s, Fain, Stellantis, Bryce Currie, Liz Door, Chris McNally, Karine Jean, Pierre, Sam Fiorani, Glen Hauenstein, Wednesday's Ford, walkouts, Joe White, Abhirup Roy, David Shepardson, Priyamvada, Peter Henderson, Ben Klayman, Nick Zieminski, Matthew Lewis Organizations: Ford, Super, Louisville Ford, REUTERS, Rights DETROIT, United Auto Workers, UAW, Ford's Kentucky, Chrysler, Detroit, Kentucky, General Motors, Lincoln, White, AutoForecast Solutions, Reuters Graphics Reuters, Delta Air Lines, Delta, Detroit Three, GM, Stellantis, Thomson Locations: Louisville , Kentucky, U.S, WASHINGTON, Stellantis, Lincoln, Kentucky, Arlington , Texas, Flint , Michigan, Sterling Heights, Warren , Michigan, Detroit, Wells, Its Kentucky, San Francisco, Washington, Bengaluru

The UAW said that 8,700 union members at Ford's Kentucky truck plant went on strike after the union said the No. [1/4]United Auto Workers (UAW) members strike outside of Ford's Kentucky Truck Plant in Louisville, Kentucky, U.S. October 11, 2023. Even with Wednesday's walkout, only about 22% of the 150,000 UAW workers at the Detroit Three automakers are on strike. The walkout in Kentucky will put stress on Ford UAW members beyond the sprawling factory near Louisville. Workers at a dozen other Ford plants that supply engines, transmissions and other components to the plant could be furloughed.

Persons: Shawn Fain's, Fain, Ford, leadership's, UAW bargainers, Harley Shaiken, Shaiken, Wednesday's Ford, walkouts, David Shepardson, Joe White, Abhirup Roy, Heekyong Yang, Peter Henderson, Sayantani Ghosh, Jamie Freed Organizations: DETROIT, United Auto Workers, Detroit Three automakers, UAW, Ford, Duty, Lincoln Navigator, Ford Expedition, Kentucky, Detroit, Motors, Chrysler, Plant, Handout, Detroit Three, Ford UAW, Workers, University of California, GM, Stellantis, BlueOval SK, South Korea's SK, Thomson Locations: Ford's Kentucky, U.S, Kentucky, Arlington , Texas, Stellantis, Sterling Heights, Warren , Michigan, Detroit, Ford's, Louisville , Kentucky, Louisville, Berkeley, South, Tennessee, Washington, San Francisco, Bengaluru, Seoul

A newly remodeled Ford F250 Super Duty truck is displayed at the new Louisville Ford truck plant in Louisville, Kentucky, U.S. September 30, 2016. Analysts at Wells Fargo estimated that Ford will lose about $150 million per week in core profit from the Kentucky plant strike. Even with 8,700 workers at Ford's Kentucky Truck plant now on strike, less than a quarter of the 150,000 UAW workers at the Detroit Three automakers are now on strike. Ford warned on Wednesday that workers at a dozen other factories could be sent home because of the truck plant walkout. Its Kentucky truck plant, the company's most profitable operation, generates $25 billion in annual sales, about a sixth of Ford's global automotive revenue.

Persons: Bryan Woolston, Shawn Fain, Here’s, Fain, Stellantis, Chris McNally, Ford's, Flint, Sam Fiorani, Wells, Colin Langan, Ford, Fiorani, leadership's, Wednesday's Ford, walkouts, Joe White, Abhirup Roy, David Shepardson, Priyamvada, Peter Henderson, Jamie Freed Organizations: Ford, Super, Louisville Ford, REUTERS, Rights, United Auto Workers, UAW, Ford's, Stellantis NV, General Motors, Chrysler, Lincoln, Detroit, AutoForecast Solutions, Detroit Three, Kentucky, GM, Reuters Graphics Reuters, Thomson Locations: Louisville , Kentucky, U.S, Stellantis, Kentucky, Arlington , Texas, Sterling Heights, Warren , Michigan, Detroit, Wells, Its Kentucky, San Francisco, Washington, Bengaluru

☆ Cramer urges investors to stick with Ford, even as latest strike risks denting profits
▼ + stars: | 2023-10-12 | by ( Paulina Likos | ) www.cnbc.com time to read: +4 min

Around 8,700 Ford workers Wednesday evening walked off the job at the automaker's Kentucky truck plant — its largest and most profitable globally — after the UAW said Ford refused further concessions in contract bargaining. "It's time for a fair contract at Ford and the rest of the Big Three," he added. Ford was apparently caught off guard by the strike at its Kentucky plant, which generates $25 billion in annual revenue, roughly a sixth of the company's global automotive revenue. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Factory workers and UAW union members form a picket line outside the Ford Motor Co. Kentucky Truck Plant in the early morning hours on October 12, 2023 in Louisville, Kentucky.

Persons: Ford, Jim Cramer, Fain, Jim, BofA, Wells, Jim Cramer's, Luke Sharrett Organizations: United Auto Workers, Ford, Big Three Detroit, UAW, Chrysler, General Motors, Big Three, Duty, Ford Expedition, Lincoln, Bank of America, Detroit, CNBC, Factory, Ford Motor Co, Plant, Getty Locations: Kentucky, Wells Fargo, Louisville , Kentucky

☆ Black UAW workers won progress in America's auto industry. They are on strike for its future
▼ + stars: | 2023-10-07 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +12 min

The percentage of Black workers in the auto industry today is more than double their share of the workforce overall. But the decline in US auto jobs and the erosion of unions have hit Black workers hardest. Black workers are likelier to belong to unions, in any industry, compared to White and Hispanic workers. Black union workers earn on average 16.4% higher wages than non-union Black workers, and they are likelier to have health care and retirement benefits, studies show. Hard-won gains disappearSoon after Black auto workers broke into better paying jobs, the US auto industry began its long decline, decimating Black communities in particular.

Persons: Lynda Jackson’s, Jackson, ” Jackson, ” Lynda Jackson, Lynda S, Emily Elconin, ”, Tiffanie Simmons, Simmons, Steven Pitts, Luke Sharrett, Tesla, “, ” Pitts, Jim Crow, Henry Ford, Nelson Lichtenstein, “ Walter Reuther, Ford, Irving Haberman, Kevin Boyle, Boyle, Philip Randolph, Randolph, Franklin Roosevelt, Walter Reuther, —, James Meredith, Martin Luther King, Jr, Roy Wilkins, Phillip Randolph, Walther Reuther, Martin Luther King Jr, Reuther, ” Boyle, Spencer Platt, Josh Bivens, Biden, Erica Smiley, ” Smiley Organizations: New, New York CNN, Chrysler, Ford, General Motors, United Auto Workers, UAW, Detroit’s, Processing, Bloomberg, Getty, Ford Motor, Economic Policy Institute, UC Berkeley Labor Center ., Tesla, Ku Klux Klan, University of California, America, Northwestern University, Jobs, Walther Reuther . Express, Hulton, Southern Christian Leadership Conference, The League, Revolutionary Black Workers, Black, Economic, Institute, P Global Market Intelligence, Justice Locations: New York, Alabama, Detroit, America, Ypsilanti , Michigan, Wayne , Michigan, Detroit , Michigan, White, Fremont , California, . Mississippi, sharecropping, Chicago , New York, Pittsburgh, Cleveland, AFP, Santa Barbara, Ford's, Rouge, Dearborn , Michigan, Washington, Birmingham, Selma, Black, Flint, Midwest, autoworkers

☆ UAW strike cost GM $200 million in its first two weeks
▼ + stars: | 2023-10-04 | by ( Chris Isidore | ) edition.cnn.com time to read: +3 min

New York CNN —The United Auto Workers union strike has cost General Motors $200 million since the work stoppage began two weeks ago, the company said Wednesday. GM was relatively flush with cash heading into the strike, which started on September 15. During the second week, the UAW also went on strike at a series of 18 parts and distribution centers operated by GM as well as 20 at Stellantis. This week, GM arranged for a new $6 billion line of credit. GM lost $2.9 billion from a six-week strike the UAW waged against it in 2019.

Persons: Fairfax, Ford, ” Organizations: New, New York CNN, United Auto Workers, Motors, GM, UAW, Ford, Jeep, Dodge, Chrysler, GM’s Lansing Delta Township Assembly, GM Financial, Securities and Exchange Commission Locations: New York, , Missouri, Fairfax, Kansas City , Kansas, Wentzville, Stellantis, GM’s Lansing Delta Township, Chicago

[1/2]Striking United Auto Workers (UAW) union workers picket outside the Ford Michigan Assembly Plant in Wayne, Michigan, U.S., September 23, 2023. Workers went on strike on Sept. 15 at one plant each from GM, Ford and Stellantis. The union escalated on Sept. 22, when workers walked off the job at GM and Stellantis distribution facilities in 20 states nationwide. UAW workers also are threatening to walk off the job at heavy truck maker Mack Trucks on Sunday, and at three Detroit casinos. A UAW strike has shut down a plant that builds axles for Mercedes-Benz's Alabama vehicle factory.

Persons: Shawn Fain, Fain, Stellantis, Mary Barra, Jim Farley, Farley, Joe Biden, Barra, Sam Fiorani, Ford, Nalio Chery, Arthur Wheaton, Mack Trucks, David Shepardson, Joseph White, Ben Klayman, Abhirup Roy, Bianca Flowers, Shivansh, Abhijith G, Peter Henderson, Nick Zieminski, David Gregorio, Jonathan Oatis Organizations: UAW, Lansing , Michigan Ford, GM, Ford, United Auto Workers, Detroit, Chrysler, Mack Trucks, AutoForecast Solutions, Ford Michigan Assembly Plant, REUTERS, Workers, Ford Explorer, Lincoln Aviator, Traverse, Buick, Marshall, Cornell University, Mercedes, Reuters, Thomson Locations: Chicago, Lansing , Michigan, DETROIT, Barra, Detroit, Wayne , Michigan, U.S, Dieu, Lansing, Michigan, Marshall , Michigan, Alabama

“I don’t know why Jim Farley is lying about the state of negotiations," Fain said in a statement responding to the Ford CEO. The UAW wants those workers represented by the union and paid the highest-tier wages. Workers went on strike on Sept. 15 at one plant each from GM, Ford and Stellantis. UAW workers are threatening to walk off the job at heavy truck maker Mack Trucks on Sunday, and at three Detroit casinos. A UAW strike has shut down a plant that builds axles for Mercedes-Benz's Alabama vehicle factory.

Persons: Jim Farley, Shawn Fain, Stellantis, Fain, Sam Fiorani, Joe Biden, Ford, Farley, Arthur Wheaton, Mack Trucks, Silverados, David Shepardson, Joseph White, Ben Klayman, Abhirup Roy, Bianca Flowers, Shivansh, Abhijith G, Peter Henderson, Nick Zieminski, David Gregorio, Jonathan Oatis Organizations: UAW, Lansing , Michigan Ford, Ford, United Auto Workers, Detroit, Chrysler, Mack Trucks, AutoForecast Solutions, Workers, Ford Explorer, Lincoln Aviator, Traverse, Buick, Marshall, General Motors, GM, Cornell University, Mercedes, Reuters, Thomson Locations: Chicago, Lansing , Michigan, DETROIT, U.S, Detroit, Lansing, Michigan, Marshall , Michigan, Alabama

"Despite our willingness to bargain Ford and GM have refused to make meaningful progress," Fain said in a video address Friday morning. It began on Sept. 15, when workers struck at one plant each from GM, Ford and Stellantis. The UAW did not strike at Ford distribution facilities last week, citing progress in talks with that company. Analysts estimate GM, Ford and Stellantis earn as much as $15,000 per vehicle on each of their respective large pickup truck models. The Ford assembly plant in Chicago builds the Ford Explorer and Lincoln Aviator SUVs, while the GM plant in Lansing makes the Chevy Traverse and Buick Enclave SUVs.

Persons: Shawn Fain, GM's, Fain, Stellantis, Friday Fain, Arthur Wheaton, Silverados, Sam Fiorani, Joe Biden, David Shepardson, Joseph White, Ben Klayman, Abhirup Roy, Peter Henderson, Nick Zieminski Organizations: DETROIT, United Auto Workers, General Motors, Ford, Chrysler, Detroit Three, GM, UAW, Detroit, Cornell's School of Industrial and Labor Relations, U.S, Workers, Stellantis, Strikers, AutoForecast Solutions, Ford Explorer, Lincoln Aviator, Traverse, Buick, Reuters, Thomson Locations: Chicago, GM's Lansing , Michigan, Stellantis, Marshall , Michigan, Milan, Detroit, Lansing

☆ Striking auto workers target 38 new GM and Stellantis plants as strike enters second week
▼ + stars: | 2023-09-22 | by ( Associated Press | ) www.businessinsider.com time to read: +4 min

The United Auto Workers union expanded its strike on Friday, as the stoppage entered a second week. Striking workers are asking for pay raises and calling attention to how much their CEOs make. The UAW has other demands, including a 32-hour work week for 40 hours of pay and a restoration of traditional pension plans for newer workers. Fain said earlier this week he would call on workers at more plants to strike unless there was significant progress in contract negotiations with the carmakers. One week ago, workers went on strike a week ago at three assembly plants — a Ford factory near Detroit, a GM plant outside St. Louis, and a Jeep plant owned by Stellantis in Toledo, Ohio.

Persons: Ford, Shawn Fain, Fain, Friday, Louis, Mark Truby, Jonah Furman Organizations: United Auto Workers, Ford, UAW, Service, Motors, Stellantis, Detroit News, GM Locations: Wall, Silicon, Detroit, Wentzville , Missouri, Toledo , Ohio, St

Biden is trying to turbocharge the market for electric vehicles to reduce greenhouse gas emissions and prevent China from solidifying its grip on a growing industry. However, some in the UAW fear the transition will cost jobs because electric vehicles require fewer people to assemble. China is the dominant manufacturer of electric vehicles and batteries. Some environmental groups, conscious of how labor remains crucial to securing support for climate programs, have expressed support for the strike. Former President Donald Trump, the frontrunner for the Republican nomination, sees an opportunity to drive a wedge between Biden and workers.

Persons: Joe Biden, Biden, ”, Erik Gordon, Brittany Eason, Eason, ” Biden, “, Dave Green, ’, Suzanne Clark, Sam Gilchrist, It's, Donald Trump, NBC's “, ” Trump, Shawn Fain, “ That’s, ” Ammar Moussa, Trump, Barack Obama, Fain, Madeline Janis, Joey Cappelletti Organizations: WASHINGTON, United Auto Workers, UAW, University of Michigan’s Ross School of Business, Ford Assembly Plant, White, ”, U.S . Chamber of Commerce, Natural Resources Defense, Presidential, Republican, Press, MSNBC, Energy Department, Ford, South, White House, Associated Locations: Michigan, China, Wayne, Mich, Detroit, Ohio, Indiana, U.S, United States, Tennessee, Kentucky, South Korean, Lansing

☆ Trump criticizes UAW leadership amid strike, warns autoworkers' jobs are moving to China
▼ + stars: | 2023-09-15 | by ( Amanda Macias | ) www.cnbc.com time to read: +4 min

"The autoworkers will not have any jobs, Kristen, because all of these cars are going to be made in China. The electric cars, automatically, are going to be made in China," Trump told NBC News' Kristen Welker in an exclusive, wide-ranging interview set to air Sunday on "Meet the Press." "The autoworkers are being sold down the river by their leadership, and their leadership should endorse Trump," added the frontrunner for the Republican presidential nomination. The strike marked the first time the United Auto Workers union targeted the three automaker titans simultaneously. Read more: Why the United Auto Workers want big raises Trump specifically criticized UAW President Shawn Fain.

Persons: Donald Trump, Kristen Welker, Kristen, Trump, autoworkers, Read, Shawn Fain, he's, Fain, Joe Biden, Matthew Hatcher, Biden, Xi Jinping Organizations: GM, NBC News, Press, WASHINGTON —, United Auto Workers, General Motors, Ford, NBC, Republican, SAIC General Motors Co, automaker titans, Workers, Trump, UAW, Ford Assembly Plant, AFP, Getty, White, U.S, China Locations: China, Wuhan, Wentzville , Missouri, Wayne , Michigan, Toledo , Ohio, Washington, Beijing

LANSING, Mich. (AP) — The prospect of an auto workers strike could test Joe Biden 's treasured assertion that he's the most pro-union president in U.S. history. Political Cartoons View All 1154 Images“I think the American public as a whole realizes the impact that the American auto workers have on the economy," Killian said. But, unlike with rail and airline workers, the president doesn’t have the authority to order autoworkers to stay on the job. Nowhere will the political fallout of an auto workers strike be felt more than Michigan, which Biden won by nearly 3 percentage points in 2020. And Ray Curry, the former UAW president who was unseated by Fain, had worked with Biden in the past, even attending White House ceremonies.

Persons: Joe Biden, Marick, Doc Killian, Killian, ” Biden, Biden, ”, Shawn Fain, “, Fain, Donald Trump, Trump, TRUMP, doesn't . Fain, Dave Green, ” Green, doesn’t, Mark Brewer, Brewer, Ray Curry, Gene Sperling, Biden's, he'll, what's, Randi Weingarten, Biden’s, Weingarten, ___ Weissert, Tom Krisher Organizations: United Auto Workers, General Motors, Ford, Wayne State University, CNN, UAW, Republican, UAW “, “ Union, Democratic, GOP, Michigan Democratic Party, U.S, White, longtime Democratic, Trump, American Federation of Teachers, Associated Press Locations: LANSING, Mich, Michigan, Ohio, Indiana, Detroit, Wayne , Michigan, America, China, Washington, United States, U.S, Wisconsin, Pennsylvania, Philadelphia

☆ Yellen lauds Ford's 100-year history in South Africa, flags more investments
▼ + stars: | 2023-01-26 | by ( Andrea Shalal | ) www.reuters.com time to read: +3 min

REUTERS/Siphiwe SibekoSILVERTON, South Africa, Jan 26 (Reuters) - U.S. Treasury Secretary Janet Yellen on Thursday lauded the Ford Motor Co's 100-year history of assembling vehicles in South Africa and underscored Washington's resolve to expand trade ties with countries that it "can count on," including South Africa. About 600 U.S. companies operate in South Africa, employing about 220,000 people and generating revenue equivalent to about 10% of South Africa's entire gross domestic product, U.S. Ambassador to South Africa Reuben Brigety said at the event. As in her comments to South Africa's finance minister earlier on Thursday, Yellen did not address South Africa's refusal to take sides over Russia's war in Ukraine or Washington's concern over military exercises it plans with China and Russia. That includes our many trusted trading partners on this continent — like South Africa."

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