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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...
...“The structural problems facing the companies [and] the structural problems facing the union make these inevitably tense negotiations,” said Marick Masters, a labour relations professor at Michigan’s Wayne...
...The United Auto Workers is expanding its strike against General Motors and Stellantis, while sparing Ford, which it said had significantly improved its offer to workers....
...For the Ford Bronco and Ranger, both made at a striking plant in Wayne, Michigan, there is 40 and 26 days of supply, respectively....
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...The United Auto Workers union is expanding its weeklong strike to additional workplaces owned by General Motors and Stellantis, while sparing Ford, which it said had significantly improved its offer to workers...
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...That was down from 49 12 months earlier, as it exited stakes in companies including General Motors, UPS and Procter & Gamble earlier in the year....
...Cruise, the self-driving car subsidiary of General Motors, targeted annual revenues of $1bn by 2025. Last year, the business reported sales of just $102mn amid a $3.4bn loss....
...The FT visited Detroit this week to take the pulse of the Motor City — stay tuned for our report later this weekend. The history of the Lions overlaps with the history of Detroit itself....
...Ford, General Motors and Tesla have all pumped the brakes on expanding EV production capacity in recent weeks....
...Ford and General Motors have paused plans to expand their EV manufacturing capacity in recent months, and last week Rivian announced that it would cut 10 per cent of its workforce and keep deliveries flat...
...For example, US carmaker General Motors has committed to selling only electric vehicles by 2035, presenting its legal team with many challenges....
...The club, which is currently 20th in the second tier of English football, this week sacked Wayne Rooney as manager after a dismal string of results....
...The company disclosed it had sold off its remaining position in carmaker General Motors during the three months to the end of September, an investment that was worth roughly $850mn in the previous quarter...
...Shanghai’s state-owned carmaker SAIC Motor, for example, had its 15 per cent tax rate for being a “high-tech enterprise” renewed four times since 2008....
...Two months into bargaining and the United Auto Workers and manufacturers remain far apart on how much the 150,000 autoworkers at Ford, General Motors and Stellantis should be paid....
...Rivian went public in late 2021 with a market capitalisation of more than $100bn — bigger than Ford and General Motors....
...“[UAW’s deal] is a sign of changing times,” said Marick Masters, a labour relations professor at Michigan’s Wayne State University....
...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....
...Then, last week, fellow start-ups Rivian and Lucid Motors also announced lacklustre results, sending their shares tumbling....
...A version of this article was first published by Nikkei Asia on February 7. ©2024 Nikkei Inc. All rights reserved....
...Wayne McGregor, Choreographer/director My favourite room is my library, where I can be surrounded by books by brilliant people on a wide variety of topics....
...The union wrested big pay rises and other benefits from Ford, General Motors and Stellantis earlier this month after a six-week strike against the companies....
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