General Electric (GE) has experienced a financial resurgence with increased orders and revenues, prompting speculation about its future potential; technical analysis suggests a possible rise in the stock price in the coming months.
The demands of the United Auto Workers (UAW) union, including higher pay, shorter work hours, and the restoration of pensions, could lead to a strike against General Motors, Stellantis, and Ford as the automakers refuse to meet these demands, potentially raising already-inflated vehicle prices.
The United Auto Workers union representing workers at the Big 3 U.S. automakers is demanding a four-day workweek at full-time pay, a 46% wage increase, and a share of company profits, threatening to strike if an agreement is not reached by September 14.
GM, Ford, and Tesla are expected to face rising labor costs, whether or not a strike occurs as the United Auto Workers' labor deal with the Detroit-Three automakers nears its expiration.
General Motors has offered its largest four-year wage increase in decades to the United Auto Workers, with most workers receiving a 10% increase and newer employees eligible for up to a 56% increase, in an attempt to avoid a strike.
Approximately 146,000 U.S. auto workers are poised to go on strike if General Motors, Ford, and Stellantis fail to meet their demands for substantial pay raises and restored benefits, potentially causing significant disruptions in auto production and impacting the U.S. economy.
The article discusses the impending UAW strike and the potential impact on Ford and GM stock.
The United Auto Workers and the "Big Three" U.S. automakers are negotiating a new labor contract, with the possibility of a strike looming and workers demanding a 20% raise and other benefits, which could potentially impact the Michigan economy and lead to costlier electric vehicles.
A potential strike by the United Auto Workers could have wide-ranging economic impacts, including higher car prices and job losses at suppliers, with a prolonged strike even potentially pushing the economy toward a recession.
General Motors and Ford saw slight decreases in their stock prices while Stellantis experienced a small increase after the United Auto Workers initiated a strike, with approximately 12,700 workers walking out at key assembly plants.
The strike by United Auto Workers against the Big 3 carmakers has sparked concern among stock-market investors over the impact on the economy, supply chains, and corporate profits.
The strike by autoworkers against the Big 3 U.S. automakers highlights the growing gap between CEO and worker pay, with the United Auto Workers demanding a 46% raise for workers over the next four years, exceeding the combined 40% increase in CEO compensation over the past four years.
The auto workers' strike, although currently limited in its impact, could have significant growth implications if it expands and persists, potentially causing a 1.7 percentage point quarterly hit to GDP and complicating policymaking for the Federal Reserve.
As the United Auto Workers (UAW) strike against the Detroit Three automakers continues, suppliers in the automotive industry are preparing for potential layoffs and disruptions in the supply chain, which could have significant economic consequences, including the possibility of tens of thousands of job layoffs and a potential crisis in the supply chain if the strike expands and lasts for several weeks.
General Motors has laid off most of the unionized workers at its Kansas assembly plant due to the ongoing UAW strikes, which is the largest ripple effect of the strikes so far; however, the strike's impact on the auto industry is currently smaller than expected due to the UAW's novel strategy of targeted plant strikes.
The United Auto Workers (UAW) is demanding that General Motors (GM) give more money to assembly-line workers instead of spending billions on stock buybacks, as the UAW believes that the Detroit Three automakers have been minting profits and should share more with their employees.
The ongoing United Auto Workers strike against the Big Three automakers could result in gains for Tesla and foreign automakers as Ford, GM, and Stellantis face challenges in transitioning to electric vehicles and potentially raising prices, according to Wedbush analysts.
The United Auto Workers union is expanding its strike against major automakers by walking out of 38 General Motors and Stellantis plants in 20 states, citing demands for higher wages and shorter working hours.
The U.S. auto industry is expected to see a strong recovery in the third quarter, with sales volumes in September forecasted to increase by over 13% from 2022, and Q3 sales to surpass 3.9 million, a jump of more than 15% from the same timeframe last year.
Top executives at Ford and General Motors criticize the United Auto Workers' leadership as the strike enters its 15th day and expands to new plants, with Ford accusing the union of "holding the deal hostage" over planned electric-vehicle battery plants and GM claiming the UAW has "no real intent to get to an agreement."
Despite strikes and high interest rates, analysts expect new vehicle sales in the U.S. to continue growing, with an estimated annualized pace of 15.5 million in September, along with positive sales growth forecasts for general motors, Toyota, Ford, and Honda.
Ford Motor's third-quarter U.S. new vehicle sales rose 7.7%, driven by increased sales of traditional pickup trucks, while sales of electric vehicles were up by 14.8% and hybrid sales saw a 41.4% increase.
Ford Motor reported a nearly 8% increase in U.S. auto sales for the third quarter, driven by strong demand for crossover SUVs and pickup trucks, despite concerns over supply disruptions caused by the ongoing strike by the United Auto Workers union.
General Motors estimates that the United Auto Workers strike will cost around $200 million during the third quarter and has filed for additional credit of up to $6 billion in case of ongoing labor troubles.
Ford Motor Co.'s sales rose 7.7% in the third quarter, driven by higher sales of hybrid vehicles and trucks, while the effects of the United Auto Workers strike have yet to significantly impact sales.
General Motors (GM) has made a counteroffer to the United Auto Workers (UAW) in an attempt to resolve the strike against the automaker, while talks between the UAW and Ford have seen progress in key areas such as pay increases.
General Motors has presented a new counter offer to the United Auto Workers amidst the union's announcement of a new strike.
Michigan businesses are experiencing low sales as the United Auto Workers strike against Ford, General Motors, and Stellantis enters its third week, potentially pushing the state towards a recession similar to that of COVID-19 if the strike is not resolved soon.
General Motors offers a 20% wage increase over the life of the agreement, improved retirement security, and other benefits to UAW autoworkers amid ongoing strike negotiations.
US factory production increased more than expected in September, despite strikes in the automobile industry, indicating that the economy ended the third quarter with momentum.
Production at U.S. factories increased more than expected in September, suggesting strong momentum for the economy despite strikes in the automobile industry curbing motor vehicle output.
The United Auto Workers strike, which has been expanding for five weeks, now includes the Kentucky Truck Plant, one of Ford's largest and most profitable plants, impacting the company significantly.
General Motors (GM) has raised its offer to striking auto workers, matching Ford's proposed 23% wage hike and other benefit improvements, in an effort to reach a final agreement with the union.
The Big Three automakers have increased their offers for a new contract with the United Auto Workers, with proposed wage increases now at 23%, but UAW President Shawn Fain believes there is still room for more.
General Motors (GM) has withdrawn its 2023 profit guidance and adjusted its electric vehicle production plans due to the escalating costs of the United Auto Workers strikes, which are now reaching $200 million per week, while its third-quarter net income fell 7.3% but still exceeded Wall Street expectations.
The United Auto Workers expanded its ongoing strike by ordering about 5,000 workers at General Motors' Arlington Assembly Plant in Texas to walk out, incurring a $600 million hit to GM's earnings before interest and taxes.
The United Auto Workers union has expanded its strike against General Motors as 5,000 members walk off the job at a plant in Texas, in hopes of pressuring the company to offer better contracts and fair compensation to workers.
General Electric (GE) has raised its full-year profit forecast for the third time this year as its quarterly earnings exceeded expectations, driven by strong demand for jet engine parts and services, and improved performance in its renewable business, despite supply chain challenges affecting jet engine output.
The United Auto Workers union has expanded its strike to include General Motors' assembly plant in Texas, which produces profitable SUVs, resulting in the closure of three of the most profitable auto factories in the world and causing significant financial losses for the Detroit Three automakers.
General Motors has withdrawn its guidance for 2023 due to the UAW strike, which is costing the company $200 million per week and has led to a 7.3% decrease in third-quarter net income, forcing the automaker to retract its profit outlook of $12 billion to $14 billion.
General Motors is working on a new offer for the United Auto Workers that would guarantee members a 25% raise over four years, aiming to end a 43-day strike with a deal similar to the one reached by Ford.
