F - UAW President Says Tesla Is Not The Enemy In Auto Strikes: 'They're The UAW Members Of The Future' | Benzinga
An ongoing battle between the United Auto Workers union and the big three Detroit automotive companies continues to trigger work stoppages and potential trouble to revenue and profits for those affected.
In the latest developments, the UAW president shared potential future plans and concerns for a company that may become the union's future target.
What Happened: The UAW is striking against automotive companies Ford Motor Company (NYSE: F), General Motors Company (NYSE: GM) and Stellantis NV (NYSE: STLA) in a contract dispute that is seeking higher pay and better benefits for union workers.
Many analysts and experts have argued that the strike could be a positive for non-union automotive companies like Toyota Motors (NYSE: TM) and Tesla Inc (NASDAQ: TSLA).
With the likelihood of increased wages for autoworkers of the striking companies in the future, margins could be pressured and price increases necessary to combat the rising wages.
This could be a big win for a company like Tesla, which has been able to cut prices on its electric vehicles due to its scale and market share dominance in the sector.