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☆ Ford turns 'dirty' business into a profit driver. GM and Stellantis are taking notice
▼ + stars: | 2024-08-05 | by ( Michael Wayland | ) www.cnbc.com time to read: +10 min

Many fleet sales, especially daily rentals, have historically been viewed as a negative for auto companies. But Ford has proven that's not always the case by breaking out financial results for its "Ford Pro" fleet business. Ram, GM retoolAs Ford touts its fleet business, its closest rivals have amped up their operations. It launched "GM Envolve" last year, its overhauled fleet and commercial business focused on fleet sales, digital telematics and logistics for commercial customers. EV goalsGM Envolve includes the company's EV commercial business BrightDrop, which was folded back into the automaker last year instead of it acting as a subsidiary.

Persons: Mark Hazel, It's, Ford, Ferrari, Jim Farley, Wolfe, Joe White, Farley, BofA's John Murphy, Ram, Christine Feuell, Stellantis, Ram Ram, Ken Kayser, Sandor Piszar, Motors, Piszar, EV600 Organizations: Ford DETROIT, U.S, automakers, Ford Motor, General Motors, Chrysler, P Global Mobility, Ford, Ford Pro, Wolfe Research, North, GM, Ford Super Duty, Reuters, GM retool, CNBC, Software, Stellantis, GM Envolve, Sierra, GM Fleet, EV Locations: Dearborn , Michigan, U.S, North America, Europe, Kentucky, Louisville , Kentucky, Stellantis, Detroit

☆ Stellantis offers buyouts to roughly half of U.S. salaried workers
▼ + stars: | 2023-11-13 | by ( Michael Wayland | ) www.cnbc.com time to read: +2 min

DETROIT — Chrysler parent Stellantis is offering buyouts to roughly half of its U.S. white-collar employees to reduce headcount and cut costs for the automaker's North American operations. Both General Motors and Ford Motor also have cut salaried workers over the past year. "As the U.S. automotive industry continues to face challenging market conditions, Stellantis is taking the necessary structural actions to protect our operations and the Company," Stellantis said in an emailed statement. A Stellantis spokeswoman declined to comment on how many people or total costs the company would like to cut. This marks the second round of salaried buyouts this year for Stellantis.

Persons: Carlos Tavares, Stellantis, Mark Stewart Organizations: New York, Auto, DETROIT, Chrysler, U.S, General Motors, Ford Motor, Company, Stellantis, Wall Street Journal, Employees Locations: Manhattan , New York

☆ Biden says all autoworkers deserve deals like those the UAW won from Detroit automakers
▼ + stars: | 2023-11-09 | by ( Michael Wayland | ) www.cnbc.com time to read: +1 min

U.S. President Joe Biden puts on a t-shirt of the UAW Local 1268 during a United Auto Workers (UAW) union members meeting, in Belvidere, Illinois, U.S., November 9, 2023. DETROIT – President Joe Biden said Thursday that all autoworkers deserve contracts like the ones recently won by the United Auto Workers from General Motors , Ford Motor and Chrysler-parent Stellantis . Biden, wearing a red UAW T-shirt given to him by a local union leader, said the deals won by UAW negotiators are "game changers" that set a "new standard" for blue-collar workers. "I'm a little selfish, I want this type of contract for all autoworkers," Biden said during a visit with UAW President Shawn Fain in Belvidere, Illinois. "I told my team, 'Make Stellantis know Belvidere is a priority,' so I got on the phone and let him know personally I thought it was a priority," Biden said.

Persons: Joe Biden, Stellantis, Biden, Shawn Fain, Mark Stewart Organizations: UAW, United Auto Workers, DETROIT, General Motors, Ford Motor, Chrysler, Stellantis North Locations: Belvidere , Illinois, U.S, Stellantis North America, Belvidere

This is the first week since targeted strikes by the UAW started on Sept. 15 that the union will not expand the work stoppages at GM, Ford Motor or Chrysler-parent Stellantis . GM, with its battery plant in Ohio, is the only Detroit automaker with a joint venture battery plant in operation and unionized in the U.S. watch nowElectric vehicle battery plants have been a major point of contention in this year's talks between the union and the three Detroit automakers. Officially, because they're owned by joint ventures, the battery plants aren't covered by the automakers' agreements with the union. Ford CEO Jim Farley said last week that the UAW is "holding the deal hostage over battery plants."

Persons: Shawn Fain, Fain, We've, Jim Farley, Ford, Mark Stewart, who's, Stewart, Rebecca Cook Organizations: GM, Detroit automakers, DETROIT, United Auto Workers, Detroit, General Motors, UAW, Ford Motor, Chrysler, Arlington Assembly, U.S, LG Energy, Samsung SDI, Ford, North, General Motors Lansing Delta Plant Locations: Arlington, Ohio, United States, U.S, North America, Delta Township , Michigan

New York CNN —The United Auto Workers union is expanding its strike against GM and Stellantis but said that progress in negotiations with Ford means it won’t expand the number of Ford workers on the picket lines. “At noon Eastern today, all parts distributions centers at General Motors and Stellantis will be on strike,” he said. Still the announcement of progress at Ford raised hopes that the strike, at least at there, could be brought to a relatively quick end. But the UAW’s expanded strike is now targeting the parts distribution centers for GM and Stellantis. As of 10:30 am ET, Stellantis (STLA) is up 0.98%; Ford (F) is up 3.57%; and GM (GM) is up 0.7%.

Persons: Shawn Fain, ”, “, Fain, “ Ford, ” Ford, Ford, Bill Pugliano, ” Shawn Fain, Tesla Organizations: New, New York CNN, United Auto Workers, GM, Ford, UAW, General Motors, Ford Michigan Assembly Plant, Stellantis, Jeep, Dodge, Chrysler, Big, Facebook, UAW International Union Locations: New York, Wayne , Michigan, Wentzville , Missouri, Toledo –, North America, Virginia, California, America, Auburn Hills , Michigan

☆ Stellantis could close 18 facilities under UAW deal — here are the full details of its latest offer
▼ + stars: | 2023-09-18 | by ( Michael Wayland | ) www.cnbc.com time to read: +7 min

Stellantis said the facility would "continue to be our North American headquarters and North America technical center." It's not guaranteed the facilities would close under a labor deal; however, Stellantis is required to include potential closures or sales of any location where a UAW member works, a company source said. Stellantis North American Chief Operating Officer Mark Stewart, who is overseeing the UAW talks, said the company needs to "modernize" the Mopar facilities. Stewart, without disclosing details of the plan, described the company's proposal for Belvidere as a "very compelling offer." The Mopar facilities that could close include Atlanta PDC; Boston PDC; Centerline Warehouse & Packaging; Chicago PDC; Marysville PDC; Milwaukee PDC; New York PDC; Orlando PDC; Sherwood PDC; and Warren PDC.

Persons: Bill Pugliano, Stellantis, Jeff Kowalsky, It's, Mark Stewart, Stewart, Rich Boyer, Michael Wayland, Sen, Bernie Sanders, Boyer Organizations: United Auto Workers, UAW, Big, Getty, DETROIT, CNBC, Belvidere Assembly, Plant, Elliott, FCA, Technology Center, Afp, North, Detroit Free Press, Detroit, General Motors, Ford Motor, Cherokee, GM, Ford, CNBC UAW, U.S, Detroit automakers, Atlanta PDC, Boston PDC, Packaging, Chicago PDC, Marysville PDC, Milwaukee PDC, New York PDC, Orlando PDC, Sherwood PDC, Warren PDC Locations: Detroit , Michigan, U.S, Illinois, Belvidere, Indiana, Trenton, Michigan, Detroit, Stellantis, Auburn Hills , Michigan, North America, Arizona, Belvidere Assembly, Belvidere , Illinois, Belvidere —, Warren, Mich, Fishkill , New York, Macon , Georgia

☆ 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

☆ 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

DETROIT (AP) — The United Auto Workers union on Friday rejected wage and benefit offers from all three Detroit automakers, raising tensions just six days before a strike deadline for 146,000 employees. Union President Shawn Fain told workers in a Facebook Live appearance that he filed proposals from Ford, General Motors and Stellantis in a wastebasket. Stellantis offered wage increases in each year of a new four-year contract totaling 14.5%. To handle inflation, Ford offered cost of living pay that he called severely deficient, while GM and Stellantis offered lump sums. All companies kept tiers of wages for factory workers but lowered the number of years needed to reach full pay, he said.

Persons: Shawn Fain, ”, Fain, Stellantis, counterproposal, GM’s, Mark Stewart, Stewart, ” Fain, “ Organizations: DETROIT, United Auto Workers, Detroit, Union, General Motors, Fiat Chrysler, Ford, France's PSA Peugeot, U.S, GM Locations: Ford, North America, Stellantis

☆ A Dodge Charger is 60 times more likely to be stolen than any other vehicle in the US. It's now taken the most-stolen crown from Hyundai and Kia.
▼ + stars: | 2023-09-03 | by ( Jordan Hart | ) www.businessinsider.com time to read: +3 min

Hellcats from 2020 to 2022 are 60 times more likely to be stolen than other cars, data shows. Kia and Hyundai owners were previously plagued by theft issues thanks to a TikTok trend. The Hyundai Elantra is among the models affected by thefts sparked by the "Kia Boyz" TikTok trend, the automaker announced. Sjoerd van der Wal/Getty ImagesThe trend was popularized by the "Kia Boyz," who posted stealing the certain Kia and Hyundai models using a screwdriver and USB cord. Affected drivers included owners of certain Kia models made between 2011 and 2021 and certain Hyundai models from 2016 to 2021.

Persons: Raymond Boyd, HLDI, Matt Moore, Dodge, it's Kia, Kia Sportage, Sjoerd van Organizations: SRT Hellcat, Kia, Hyundai, Data, Stellantis, Hellcats, Wal, Getty Locations: Stellantis North America

☆ Chrysler owner calls for focus on reality in UAW labor talks
▼ + stars: | 2023-08-11 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

People attend a Stellantis presentation at the New York International Auto Show, in Manhattan, New York City, U.S., April 5, 2023. REUTERS/David 'Dee' DelgadoAug 11 (Reuters) - Chrysler parent Stellantis (STLAM.MI) sharply criticized the demands of the United Auto Workers (UAW) union on Friday, saying they need "a focus on reality from everyone involved." A UAW spokesman declined immediate comment on Stewart's letter, but earlier this week UAW President Shawn Fain called the Stellantis proposals "trash" and tossed a copy of them in a waste basket in live streamed remarks. "Stellantis proposals are a slap in the face," Fain said disclosing the company was proposing cuts to healthcare coverage, fewer vacation days for new hires and lifting a cap on temporary employees. The UAW also said the company opposes an end to two-tier wages, a practice of newer hires getting paid much less than veteran workers.

Persons: David, Dee, Delgado, Mark Stewart, Shawn Fain, Stewart, Fain, Stellantis, David Shepardson, Mark Porter, Alexander Smith Organizations: New York, REUTERS, Chrysler, United Auto Workers, UAW, Reuters, Stellantis, General Motors, Ford, Thomson Locations: Manhattan , New York City, U.S, America

☆ GM JV battery firm rejects including Ohio workers under national agreement
▼ + stars: | 2023-08-02 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

Ultium Cells LLC said on Wednesday it "does not see a viable legal or practical path to place Ultium Cells-Ohio into the General Motors National Agreement." Last week, a group of 28 senators including Senate Majority Leader Chuck Schumer urged GM, Chrysler-parent Stellantis (STLAM.MI) and Ford Motor (F.N) to recognize joint venture battery workers under national labor agreements before the current contracts expire on Sept. 14. If battery workers were covered under the national agreement, they would likely be eligible for better pay and benefits. Ultium said on Wednesday it "has provided a proposal for a fully comprehensive collective bargaining agreement, including substantial wages and benefits." In December, workers at the Ultium Cells Ohio plant overwhelmingly voted to join the UAW.

Persons: Rebecca Cook, Chuck Schumer, Ultium, Sherrod Brown, Mark Stewart, Shawn Fain, Fain, Mary Barra, David Shepardson, Chris Reese, Sonali Paul Organizations: General Motors, REUTERS, LG Energy, Democratic U.S, Ultium Cells, United Auto Workers, UAW, GM, Chrysler, Ford, Ohio, Reuters, Ultium Ohio, Thomson Locations: Detroit , Michigan, U.S, KS, Ohio, Ultium Cells Ohio, Ultium

☆ 3 U.S. cities where it's cheaper to buy a home than to rent one—none are in Florida
▼ + stars: | 2023-06-29 | by ( Celia Fernandez | ) www.cnbc.com time to read: +3 min

Redfin ranked the only four cities in the U.S. where it's cheaper to buy than rent. But there are a few cities where taking on that mortgage — instead of paying monthly rent — is the smarter financial decision. Top 3 cities where it's cheaper to buy than to rentDetroit, Mich. Philadelphia, Pa. Cleveland, Ohio In Detroit, the number one city on the list, the typical home is 24% less expensive to buy than rent. The average estimated monthly mortgage payment for homebuyers is $1,296, compared with an average estimated monthly rent of $1,697. Philadelphia, Pennsylvania ranked as the second city in the U.S. where it's cheaper to buy a home than rent.

Persons: Redfin, Taylor Marr, Marr, Jon Lovette, Cleveland , Ohio Ken Redding Organizations: Detroit, Istock, U.S, General Motors, Ford, America, Chrysler, DigitalVision, Cleveland, Bank, Getty Locations: U.S, Mich, F11photo, Detroit, Philadelphia, Pa . Cleveland , Ohio, Chicago, Philadelphia , Pennsylvania, New York City, Ohio, Cleveland , Ohio

☆ Stellantis seeks 'solution' for shuttered Illinois Jeep plant, CEO says
▼ + stars: | 2023-02-28 | by ( ) www.reuters.com time to read: +2 min

"We need to find a solution for the fact that the technology that has been decided is 40% more expensive" than combustion vehicles, Tavares told reporters during a videoconference. As Stellantis shifts its product mix toward electric vehicles, "the way to do business in the U.S. is going to change," Tavares said. "You get a more affordable proposition than the BEV," he said, referring to battery electric vehicles. Tavares said battery technology "has not stabilized." Raw materials needed for today's batteries could change as battery technology changes, he said.

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