Live On CNBC, On United Auto Workers, Ford Former CEO Mark Fields Says Labor Represents +/- 10% Of The Cost Of The Vehicle - $65/Hour (Labor Union Pricing)
Portfolio Pulse from Happy Mohamed
Former Ford CEO Mark Fields, in an interview on CNBC, stated that labor costs represent approximately 10% of the total cost of a vehicle, equating to around $65 per hour based on labor union pricing. This statement was made in the context of discussions about United Auto Workers.
September 01, 2023 | 8:23 pm
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Ford's labor costs, as per former CEO Mark Fields, account for about 10% of a vehicle's total cost. This could impact Ford's profitability if labor costs rise.
The statement by Ford's former CEO provides insight into the company's cost structure. If labor costs were to increase, this could potentially impact Ford's profitability. However, it's unclear from the news whether labor costs are expected to rise in the near term.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 100
NEUTRAL IMPACT
General Motors, similar to Ford, could be impacted by changes in labor costs. However, the news does not provide specific information about GM's labor costs.
While the news does not provide specific information about GM's labor costs, it's reasonable to assume that, like Ford, GM could be impacted by changes in labor costs. However, without specific data, it's difficult to predict the potential impact.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 50
NEUTRAL IMPACT
Stellantis, like Ford and GM, could be impacted by changes in labor costs. However, the news does not provide specific information about Stellantis's labor costs.
While the news does not provide specific information about Stellantis's labor costs, it's reasonable to assume that, like Ford and GM, Stellantis could be impacted by changes in labor costs. However, without specific data, it's difficult to predict the potential impact.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 50