The UAW Strikes Signal The Automotive Sector Is In For A Profound Change
Portfolio Pulse from Upwallstreet
UAW workers at Volvo Group-owned Mack Trucks have joined the strike against General Motors, Ford, and Stellantis, which has already cost GM $200 million in Q3. The strike has impacted the production of small and midsize pickups, as well as SUVs. However, GM has agreed to include battery cell workers under the company’s national agreement, which could put pressure on Ford and Stellantis. Meanwhile, Worksport Ltd has signed a long-term supply agreement for its hard-folding and soft-folding covers, potentially bringing in $16 million in annual revenue. Hyundai Motor Company will be getting a customized version of Worksport's solar-powered accessories.
October 09, 2023 | 2:40 pm
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NEGATIVE IMPACT
Ford is under pressure as GM has agreed to include battery cell workers under the company’s national agreement.
If Ford follows GM's lead and includes battery cell workers in its national agreement, it could face increased labor costs.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
The UAW strike has already cost GM $200 million in Q3, but the company has agreed to include battery cell workers under the company’s national agreement.
The strike has already cost GM significantly, and the inclusion of battery cell workers could lead to increased labor costs.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100
NEGATIVE IMPACT
Stellantis is under pressure as GM has agreed to include battery cell workers under the company’s national agreement.
If Stellantis follows GM's lead and includes battery cell workers in its national agreement, it could face increased labor costs.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Volvo Group-owned Mack Trucks workers have joined the UAW strike, potentially impacting production.
The strike could disrupt production, leading to potential revenue losses.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
Hyundai Motor Company will be getting a customized version of Worksport's solar-powered accessories.
The deal with Worksport could enhance Hyundai's product offerings and potentially boost sales.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
Worksport Ltd has signed a long-term supply agreement for its hard-folding and soft-folding covers, potentially bringing in $16 million in annual revenue.
The long-term supply agreement could significantly boost Worksport's annual revenue.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 90