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Automotive News Executive Editor Jamie Butters discusses the expansion of the UAW strikes and its impact on car buyers.
United Auto Workers President Sean Fain is set to deliver his weekly address to members via Facebook live on Friday at 2 p.m. ET, at which time he is expected to announce the union’s next moves in its ongoing simultaneous strike against Ford, General Motors and Stellantis.
The union’s strategy of striking at certain plants and incrementally adding more targets against any of Detroit’s Big Three as negotiations continue comes with an element of surprise and is designed to put pressure against the automakers and play them against each other.
Shawn Fain, president of the United Auto Workers (UAW), speaks during a UAW rally in Detroit on Sept. 15, 2023. Fain is slated to make his next address to members on Oct. 6, 2023, at 2 p.m. ET. (Emily Elconin / Bloomberg / Getty Images)
Since the strike began on Sept. 15 at one facility owned by each manufacturer, the UAW has expanded the strike twice, with Fain delivering the updates in his Friday video messages. GM was hit harder by the union both times while Ford was spared from the first escalation and Stellantis dodged the second.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| GM | GENERAL MOTORS CO. | 30.31 | -0.71 | -2.29% |
| F | FORD MOTOR CO. | 11.90 | -0.09 | -0.75% |
| STLA | STELLANTIS NV | 18.89 | +0.14 | +0.75% |
Fain has vowed to increase strike targets at any automaker that is not making sufficient progress in contract talks from the UAW’s perspective.
GM ESTIMATES $200M LOSS SINCE UAW STRIKE BEGAN
GM said Thursday it had delivered its sixth proposal to the UAW, marking its second offer this week after saying that “significant gaps remain” between the two sides as of Monday.
With the General Motors world headquarters in the background, United Auto Workers members attend a solidarity rally as the union strikes against the Big Three automakers on Sept. 15, 2023, in Detroit. (Bill Pugliano / Getty Images)
FORD WARNS EXTENDED UAW STRIKE COULD RESULT IN UP TO 500,000 SUPPLIER EMPLOYEE LAYOFFS
Sources told Reuters that progress was made this week in the UAW’s negotiations with both Ford and Stellantis.
Currently, around 25,000 of the 150,000 UAW members employed by the Big Three are on strike, and the union has not ruled out expanding the strike nationwide if talks drag on.
Striking United Auto Workers members from the General Motors Lansing Delta Plant picket in Delta Township, Michigan, on Sept. 29, 2023. (Rebecca Cook / Reuters Photos)
GM said Thursday that the strike has cost the automaker around $200 million so far, and the company confirmed it secured a $6 billion line of credit the day before. Ford and Stellantis declined to provide estimates of losses when asked by FOX Business.
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Data from Michigan economic consulting firm Anderson Economic Group show the UAW’s strike against the Big Three cost the U.S. economy $3.95 billion in its first two weeks.
FOX Business’ Joe Toppe and Reuters contributed to this report.