And with “EV competition rising across the board,” the analyst argued, “the timing could not be worse.”įord, GM, and Stellantis are essentially stuck between a rock and a hard place. Ives said a strike is now “very likely” because UAW leadership is under pressure to “deliver a big win” after the Teamsters union reached a lucrative contract agreement with UPS in July that secured wage increases for 340,000 workers, including a highly publicized $170,000 average salary for full-time drivers. In fact, some 97% of the 146,000 UAW union members at Ford, GM, and Stellantis (formerly Fiat Chrysler) have voted to walk out if they can’t agree to a new contract with their employers by Sept. And if its demands aren’t met, union members plan to strike. The United Auto Workers (UAW) union is pushing for a new contract that includes a 46% pay raise, a 32-hour week, the restoration of traditional pensions, and more. “Let’s be clear: This is a potential nightmare situation for GM and Ford,” he wrote in a Wednesday note. While sky-high car prices have led profits to surge at many automakers in 2023, Ives thinks a worker strike could cripple the progress of some of the industry’s giants, and he’s not mincing words. Brian Patterson Sr.Dan Ives has made a name for himself on Wall Street covering the latest and greatest tech companies and trends, but amid the rise of electric vehicles and self-driving technology, he’s also begun to focus on the auto sector.Tyler Gosney Skilled Landscape & Field Maintenance.Alec Wickey Skilled Landscape & Field Maintenance.Doug Schallenberg Skilled Landscape & Field Maintenance.Terry Lee Skilled Landscape & Field Maintenance.Travis Hogan Director of Turf Management.John Reardon MEP & Construction Engineer.Pat Mitchell Project Director MEP and Construction.Kaden Brannin Business Development Representative.Devin Masek Business Development Representative.Michael Waters Business Development Account Executive.Sam Minnick Business Development Representative.Jeffery Garrison Business Development Representative.Dalton Blackwell Business Development Account Executive.Drew Blair Business Development Account Executive.Chris Oldenburg Business Development Account Executive.John Meissner Business Development Account Executive.Jake Cuevas Business Development Account Executive.Kurt Whitlow Business Development Manager.Trishie Cosgrave Ticketing Data and Technology Analyst.Tristin Kuhn Performance Marketing Manager.Lori Young Ticket Operations Coordinator.Shelby Blankenbaker Client Services Manager.Morgan Dannewitz Client Services Manager.Lucy Mooney Corporate Partnerships Account Manager.Bailey Swyden Corporate Partnerships Account Manager.
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