A potential UAW strike would be worse on consumers the longer it lasts, experts say. But its duration is 'the real unknown.'
As the deadline for the United Auto Workers' announced strike creeps closer without the union having reached a deal with manufacturers, experts warn that the impact of the workers' action could be devastating for the U.S. car industry.
"The union has shown a willingness to strike all three Detroit-based automakers if necessary, which would make it unusual in its size," Tyson Jominy, Vice President of Data & Analytics at J.D.
"While a UAW strike will significantly impact car production, the union's strategy is uncertain. Regardless, it is likely a significant number of vehicles, many in popular consumer segments, will not be produced during the strike." The cab is lowered onto the frame of a battery-powered F-150 Lightning truck at Ford's Rouge Electric Vehicle Center in Dearborn, Michigan, on September 20, 2022. A long UAW strike would limit availability of popular vehicle models and could raise prices.Experts are split on how a potential UAW strike could impact the price of new and second-hand cars.
Jominy agrees, saying that"consumers of all brands will potentially see higher prices if the strike persists longer than a few weeks."
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
UAW plans to make contract counteroffer to FordUAW plans to make contract counteroffer to Ford - source
Read more »
GM offers 10% wage hike in UAW contract talks By ReutersGM offers 10% wage hike in UAW contract talks
Read more »
Detroit UAW workers strike threat tests Biden’s plan to win union votesU.S. President Joe Biden's strategy of backing politically crucial unions while avoiding strikes that cripple the economy has hit a bump in Detroit.
Read more »
Biden gives pep talk about unions, with UAW strike possible next weekPresident Biden praised a deal between unionized dockworkers and their employers, but the spotlight has shifted to the UAW.
Read more »
UAW plans to make contract counteroffer to FordThe United Auto Workers union on Wednesday plans to make a labor contract counterproposal on economic issues to Ford Motor , a source told Reuters.
Read more »
UAW chief says time is running out for Ford, GM and Stellantis to avoid a strikeWork stoppage at Detroit automakers could dent the car industry and dampen broader U.S. economic growth.
Read more »