STLA - Ford GM Stellantis Stocks Languish Amid UAW Strike — And Data Shows One Automaker's Woes Will Linger | Benzinga
The striking United Auto Workers union has struck a tentative deal with Ford Motor Co. (NYSE:F), potentially lifting an overhang around Dearborn. The ongoing strike that started around mid-September brought some of the main manufacturing plants of Detroit’s “Big Three” to a standstill and impacted production.
Here’s a look at how the shares of these companies, namely Ford, General Motors Corp. (NYSE:GM), and Stellantis N.V. (NYSE:STLA) fared among the turbulence and what lies ahead of them.
Ford Vs. GM Vs. Stellantis Since UAW Strike
Shares of the three legacy automakers have languished since the start of the strike on Sept. 15. While Ford and GM have seen a broadly downward trajectory, Stellantis has traded in a broad range, even rallying from early October through the middle of the month before retreating along with the broader market.
On Sept. 15, autoworkers with allegiance to the UAW walked off from Ford’s Michigan Assembly Plant in Wayne, Stellantis’ Toledo Assembly Plant, where it builds Jeeps, and GM’s Missouri plant, which makes trucks. UAW President Shawn Fain clarified that the strikes would expand to other plants in phases if demands weren’t met.
For these automakers, which were already contending with an inclement economy, higher input costs, and a painful transition to electric vehicle manufacturing, the strike could not have come at a worse time. The demands on them were unrealistic, as has ...