![]() ![]() This year, those conditions are improved, meaning higher production and better availability for customers compared to the past couple of years.TAMPA, Fla, Aug. Regarding the Cox data, Caldwell said: "That comparison industry-wide is off an historically low level, based on the supply-chain disruptions in recent years. inventory "consistent," only up about 4 percent compared to the first quarter. However, GM's director of finance and sales communications, David Caldwell, called GM's U.S. Stellantis and Ford declined to provide any context around dealer inventories and whether they've been actively stocking up to fend off the risk of a strike. That's 46 percent higher than a year ago. "It is still way below pre-pandemic levels (about 10.5 percent of MSRP) but much higher than last year (about 2.5 percent of MSRP)."Īccording to Cox Automotive's most recent new-vehicle inventory findings, the average supply of new, unsold vehicles in dealer inventory currently sits at 58 days. "With increased inventory we are seeing the increase in incentives: 5.2 percent of MSRP in August," says Alex Yurchenko, senior vice president and chief data science officer at industry analyst Black Book, which focuses its research heavily on used-car prices. Though some supply-chain issues linger, used-car prices are returning to normal and new-car incentives have begun to reappear. This potential action comes at a time when manufacturers are just beginning to get momentum around dealer inventory and production. However, if the UAW takes the "tactical" approach, only closing key factories like those that build engines and transmissions, a strike could extend far longer. We immediately put the Company in contingency mode and will take all the appropriate structural decisions to protect our North American operations and the Company."Ĭonroy says that the UAW's $825 million strike fund could last approximately 90 days. Stellantis issued a similar statement: "We are extremely disappointed by the UAW leadership's refusal to engage in a responsible manner to reach a fair agreement in the best interest of our employees, their families, and our customers. In the meantime, our priority is the safety of our workforce." We will continue to bargain in good faith with the union to reach an agreement as quickly as possible for the benefit of our team members, customers, suppliers, and communities across the U.S. General Motors issued a statement, saying: "We are disappointed by the UAW leadership's actions, despite the unprecedented economic package GM put on the table. Everything is on the table."Īs of yet, Ford has not responded publicly to the strike, although its vice president of communications issued a statement on social media hours before it began, calling Ford's last pre-strike offer "historically generous." "This strategy will keep the companies guessing," he said on Facebook Live. UAW president Shawn Fain said that, should an agreement not be reached soon, other plants are likely to be impacted. Finally, the Stellantis Toledo Assembly Complex in Toledo, Ohio, is the third, which builds the Jeep Wrangler and Gladiator. General Motors' Wentzville Assembly in Wentzville, Missouri, is the second, which currently builds the Chevrolet Colorado and GMC Canyon, among others. For now, the strike seems to be of the "tactical" nature, beginning with three assembly plants.įord's Michigan Assembly in Wayne, Michigan, is the first, where the company currently builds the Bronco and Ranger. on September 14, roughly 13,000 UAW members went out on strike. UPDATE : As their contracts with Ford, General Motors, and Stellantis expired at 11:59 p.m. UAW Strike Updates: Happenings and What's Next.
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