Ford Makes A Rare Move In A Desperate Attempt To End The UAW Strike
Portfolio Pulse from Upwallstreet
Ford Motor's Executive Chairman, Bill Ford, has called on the UAW to end the ongoing strike that is threatening the future of the automaker and the American automotive industry. The strike has expanded to Ford's most profitable plant, which brings in one-sixth of its global automotive revenue. The strike is also affecting Ford and General Motors' EV plans, which were funded by profits from combustion trucks and SUVs. The strike is costing Ford $44 million a day and GM $21 million a day. Stellantis and Ford have temporarily laid off 1,250 employees due to the strike. Tesla is due to report its Q3 performance, with expectations low due to lackluster Q3 deliveries.
October 16, 2023 | 5:38 pm
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NEGATIVE IMPACT
Ford is losing $44 million a day due to the ongoing UAW strike, which has expanded to its most profitable plant. The company's EV plans are also at risk.
The ongoing UAW strike is costing Ford $44 million a day and has expanded to its most profitable plant, which is a significant blow to the company. This, coupled with the risk to its EV plans, is likely to negatively impact the company's stock price in the short term.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100
NEGATIVE IMPACT
The UAW strike is costing General Motors $21 million a day and is putting the company's EV plans at risk.
The ongoing UAW strike is costing GM $21 million a day and is putting the company's EV plans at risk. This is likely to negatively impact the company's stock price in the short term.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100
NEGATIVE IMPACT
Stellantis has temporarily laid off 1,250 employees due to the ongoing UAW strike.
Stellantis has had to temporarily lay off 1,250 employees due to the ongoing UAW strike. This is likely to negatively impact the company's stock price in the short term.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100
NEGATIVE IMPACT
Expectations are low for Tesla's Q3 performance due to lackluster Q3 deliveries.
Expectations are low for Tesla's Q3 performance due to lackluster Q3 deliveries. This is likely to negatively impact the company's stock price in the short term.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100