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...Shareholders and top bosses at General Motors, Ford and Stellantis have fared far better than workers in the past five years, as the US auto industry enjoyed a stunning recovery following the 2008 financial...
...including Chrysler and Jeep....
...Corporate results: Japan’s Nidec Corporation, which manufactures the electric motors used in hard-disk drives, China Tourism Group and Ping An Insurance Group announce quarterly results....
...“We’re not Ford, GM and Chrysler building these $30, $40 or $50,000 cars,” he said. “Our cars are $100,000-plus. So why would we not deserve this? Because we live in Alabama?...
...Stellantis was formed by the merger of Peugeot owner PSA — which itself bought lossmaking Opel and Vauxhall from General Motors — and Fiat Chrysler, a business created when the bankrupt Chrysler was sold...
...Chrysler was bankrupt. Peugeot was bailed out in 2014, while Opel was sold by General Motors after decades of accumulated losses....
...Corporate earnings: Japan’s Mitsubishi, Nintendo and Toyota Motor and China’s Semiconductor Manufacturing International Corporation report results....
...Last year, the three biggest US carmakers — Ford, General Motors and Stellantis, which owns Chrysler — suffered strikes during wage negotiations with the United Auto Workers union....
...Japan’s Topix fell 0.8 per cent in early trading ahead of earnings releases from Toyota Motor and Mitsubishi Corporation, which were both down 0.8 per cent. South Korea’s Kospi shed 0.6 per cent....
...Stellantis, the group behind the Jeep and Chrysler brands, has not yet said how much the strike is setting it back....
...“We wholeheartedly believe that our strike squeezed every last dime out of General Motors,” Shawn Fain, UAW president, said in a video released late on Monday....
...This was the smallest impact among the Big Three carmakers in Detroit, which also include General Motors and Ford, she said....
...In the early postwar decades, America’s large multi-divisional corporations, of which General Motors was the best-known example, were seen in Europe as the model for how big business should be run....
...The union conceded such adjustments in 2009 when Chrysler, which eventually became part of Stellantis, and GM were in bankruptcy....
...The United Auto Workers on Saturday said it had reached a tentative labour agreement with Fiat Chrysler parent Stellantis, which would raise wages and end a six-week strike....
...Power, China Shenhua Energy, CSR Corporation, Great Wall Motor, Postal Savings Bank of China, SAIC Motor, Tsingtao Brewery and Yanzhou Coal Mining....
...Hyundai, which makes cars in China as part of a joint venture with state-backed BAIC Motor, declined to comment on its China business....
...For example, although MG Motor is headquartered in the UK and owned by China’s SAIC, its MG5 and MG ZS are made in China and exported....
...GM shares were up 1.5 per cent in morning trading in New York, Ford gained 0.3 per cent while Chrysler owner Stellantis rose 1.1 per cent....
...Results: General Motors, Philip Morris International, PepsiCo, Spotify and Visa are among the companies reporting....
...In the US, Chrysler was the first company to phase out traditional cars from its brands, making only SUVs, “crossovers” and pick-up trucks. Ford and General Motors have since followed suit....
...The United Auto Workers, the influential US union, is targeting Tesla as it aims to widen its base beyond the traditional Detroit carmakers of Ford, General Motors and Chrysler following its historic pay...
...Autoworkers made significant concessions during the Great Recession and the bankruptcies that followed at GM and Chrysler, now known as Stellantis....
...The VW figures came the day after General Motors reported that the US had once again become the carmaker’s biggest market after China, for the first time since 2009....
...Members of the UAW on Friday went on strike at plants in Michigan, Missouri and Ohio owned by Ford, General Motors and Stellantis respectively after months of contract talks....
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