GM, Ford furlough another 500 workers due to UAW strike
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Go back to GM, Ford furlough another 500 workers due to UAW strike
October 4, 2023 11:15 AM EDT
General Motors (NYSE: GM) announced Wednesday morning the procurement of a fresh $6 billion line of credit and disclosed that the financial impact of the United Auto Workers (UAW) strike in the 3Q amounted to $200 million, according to a company representative.
The strike, which began on September 15th and has now... More
October 4, 2023 8:36 AM EDT
The United States, in September, witnessed an impressive resurgence in the automotive industry, with the SAAR for light vehicle sales reaching a remarkable 15.7 million. This surge marked a 16.2% year-over-year increase, surpassing J.P. Morgans earlier projection of 15.4 million.
One contributing factor to the surge in auto sales is pent-up demand. Adverse weather conditions in several states during August may have led potential buyers to delay their purchases, resulting in an influx of sales the following month.
Another key factor driving strong performance is the greater availability of cars... More
