From Tesla To Toyota: UAW Launches Ambitious Campaign To Unionize Top Auto Players
Portfolio Pulse from Michael Cohen
The United Auto Workers (UAW) union has launched a campaign to unionize workers at 13 non-union automakers in the U.S., targeting nearly 150,000 workers from companies like BMW, Honda, Hyundai, Lucid, Mazda, Mercedes-Benz, Nissan, Rivian, Subaru, Tesla, Toyota, Volkswagen, and Volvo. UAW President Shawn Fain, after securing contracts with GM, Ford, and Stellantis, is looking to expand the union's reach beyond the 'Big Three' Detroit automakers by 2028. The UAW's membership has declined over the years, but recent successes have led to wage increases at non-union companies, known as the 'UAW bump.' Past efforts to unionize at foreign-based automaker plants and Tesla's Fremont plant have seen limited success.
November 29, 2023 | 10:37 pm
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NEUTRAL IMPACT
Ford Motor Co, having agreed to new contracts with UAW, might be indirectly impacted by the union's expansion efforts.
While Ford has recently negotiated contracts with UAW, the union's campaign to unionize other companies could create industry-wide shifts that indirectly affect Ford.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 50
NEUTRAL IMPACT
General Motors, having recently ratified contracts with UAW, may see indirect effects from the union's campaign to expand.
GM has already settled contracts with UAW, but the union's expansion efforts could indirectly impact GM by potentially raising labor standards and costs industry-wide.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 50
NEUTRAL IMPACT
Stellantis NV, with new UAW contracts in place, may experience indirect impacts from the union's industry-wide unionization campaign.
Stellantis, having settled with UAW, might not be directly affected by the unionization campaign, but industry-wide changes in labor dynamics could have indirect consequences.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 50
NEGATIVE IMPACT
BMW is one of the targets in UAW's campaign to unionize workers at non-union automakers in the U.S.
Unionization efforts could lead to increased labor costs and changes in operations for BMW, potentially affecting short-term profitability and stock performance.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 60
NEGATIVE IMPACT
Honda is among the companies that UAW is attempting to unionize, which could affect its labor dynamics in the U.S.
If UAW succeeds in unionizing Honda's workers, it could lead to higher wages and benefits, impacting the company's labor expenses and potentially its stock price.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 60
NEGATIVE IMPACT
Hyundai is on the UAW's list for unionization, which may lead to changes in its labor management in the U.S.
Unionization efforts at Hyundai could result in increased labor costs and potential disruptions, affecting the company's financials and stock price in the short term.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 60
NEGATIVE IMPACT
Lucid Motors is targeted by the UAW's unionization campaign, which could impact its workforce structure.
As a newer and growing company, unionization at Lucid Motors could significantly affect labor costs and operational flexibility, influencing its stock price negatively in the short term.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 60
NEGATIVE IMPACT
Toyota is a key target in the UAW's unionization campaign, which may influence its labor costs and operations.
Unionization at Toyota could lead to higher labor expenses and changes in the way the company operates its U.S. plants, potentially affecting its stock price in the short term.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 60
NEGATIVE IMPACT
Tesla is included in the UAW's unionization efforts, which could lead to changes in its labor practices.
Tesla, being a major player in the auto industry, could face significant changes in labor costs and management if UAW's unionization efforts succeed, likely affecting its stock price negatively in the short term.
CONFIDENCE 80
IMPORTANCE 80
RELEVANCE 70