Comodo Motors general manager Jordan Baker joins The Big Money Show to discuss the impact on auto dealers and car buyers from the ongoing UAW strike.
Ford Motor Co. Executive Chair Bill Ford delivered a speech Monday urging the United Auto Workers to come together with the company to reach an agreement to end the union’s ongoing strike, saying America’s entire auto industry is at risk if the strike against Ford, General Motors and Stellantis is prolonged.
“Today, as the UAW strike against Ford continues, we are at a crossroads,” Ford said in a speech at the company’s Rouge Visitor Center in Dearborn, Michigan. “Choosing the right path is not just about Ford’s future and our ability to compete. This is about the future of the American automobile industry.”
“I call on my great UAW colleagues, some of whom I’ve known for decades… We need to come together to bring an end to this acrimonious round of talks,” he urged.
William Clay Ford Junior, Executive Chairman of Ford, speaks on stage at the Ford automobile factory on June 12, 2023 in Cologne, Germany. (Lukas Schulze/Getty Images / Getty Images)
Ford said the U.S. auto industry is critical to the country’s national security, and added that “Toyota, Honda, Tesla and others are loving this strike because they know the longer it goes on, the better it is for them.”
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UAW President Shawn Fain responded to Ford’s remarks with another threat to escalate the strike further.
“Bill Ford knows exactly how to settle this strike. Instead of threatening to close the Rouge, he should call up Jim Farley, tell him to stop playing games and get a deal done, or we’ll close the Rouge for him,” Fain said in a statement. “It’s not the UAW and Ford against foreign automakers. It’s autoworkers everywhere against corporate greed. If Ford wants to be the all-American auto company, they can pay all-American wages and benefits. Workers at Tesla, Toyota, Honda, and others are not the enemy – they’re the UAW members of the future.”
Striking United Auto Workers (UAW) march in front of the Stellantis Mopar facility on Sept. 26, 2023, in Ontario, California. (Gina Ferazzi / Los Angeles Times via Getty Images / Getty Images)
The UAW launched its simultaneous but limited strike against Ford, GM and Stellantis on Sept. 15, beginning with one plant at each manufacturer. The union has incrementally expanded the strike to other facilities and has so far shut down six assembly plants, three of which are Ford’s, along with 38 parts depots owned by GM and Stellantis.
Around 34,000 of the 150,000 union workers employed by the Big Three are currently off the job and on picket lines, and the UAW has threatened to extend the strike nationwide if contract negotiations drag on without sufficient progress being made in addressing the union’s demands.
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The UAW is asking for raises of 40% for members over the four-year contracts with the automakers, and Fain said Friday that Ford has increased its wage hike offer to 23% – higher than both GM and Stellantis.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| F | FORD MOTOR CO. | 11.81 | -0.19 | -1.58% |
| GM | GENERAL MOTORS CO. | 29.66 | -0.66 | -2.18% |
| STLA | STELLANTIS NV | 19.68 | -0.09 | -0.46% |
Ford has said it has offered the UAW a record contract, but meeting all the union’s demands would hinder the company’s ability to remain competitive.
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“Ford’s ability to invest in the future is not just a talking point,” Bill Ford said Monday. “It’s the absolute lifeblood of our company. And if we lose it, we will lose to the competition. America loses.”
Reuters contributed to this report.
