TSLA - The UAW Strikes Signal The Automotive Sector Is In For A Profound Change | Benzinga
This week began with UAW workers at Volvo Group (OTC: VLVLY)-owned Mack Trucks also going on strike, joining the UAW’s targeted strike against the Detroit Three automakers. Since walking out on September 15th, the strike against General Motors (NYSE: GM), Ford (NYSE: F) and Chrysler parent Stellantis N.V. (NYSE: STLA) gathered 25,000 employees which make about 17% of UAW members, covered by expired contracts with the Detroit automakers. Yet last week ended with UAW deciding not to expand strikes at Detroit’s big three automakers after a last-minute proposal that GM made.
GM Saved The Day
For the first time since the work stoppages began, the UAW decided not to expand the strike despite still not having reached a tentative agreement with General Motors, Ford and Stellantis. UAW was about to shut down the GM-owned Arlington Assembly plant that produces highly profitable full-size SUVs when the automaker agreed to include battery cell workers under the company’s national agreement. Officially, because of being formed by joint ventures, the battery plants aren’t covered by the automakers’ agreements with the union. Therefore, this revolutionary decision GM made will undoubtedly put pressure on Ford and Stellantis.
Mack Trucks Union Members To Join Striking Detroit Autoworkers
As announced on Sunday night, 74% of UAW members rejected a tentative deal that was reached last ...