Posts tagged Automotive Press Association
Prominent auto analyst on UAW contract talks: ‘I think we’re going to see a strike’
June 22, 2023 // Auto analysts at Bank of America feel confident in the likelihood of a United Auto Workers strike of at least one of the Detroit automakers later this year — and they expect the union to secure wage and benefit improvements that result in 25% to 30% higher labor costs for the companies over the four years of the contract. That's according to comments made Wednesday by John Murphy, managing director and lead U.S. auto analyst in equity research at Bank of America, during the financial institution's annual "Car Wars" presentation. The event was hosted by the Automotive Press Association. John Murphy, managing director and lead U.S. auto analyst in equity research at Bank of America, expects UAW members to be on the picket lines this September against at least one of the Detroit Three automakers. “I think we’re going to see a strike on Sept. 15," said Murphy. The UAW's current contracts with Ford Motor Co., General Motors Co. and Stellantis NV expire Sept. 14. Talks on a new agreement are slated to start this summer. Murphy said he's highly confident in at least one strike happening, and that the chances of a subsequent strike at one of the other automakers is "much higher than normal."
UAW president: Membership fell roughly 6% last year
April 4, 2022 //