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GM can handle losses of UAW strike if new contract lowers labor costs

(Source: Detroit News, October 3, 2019)

DETROIT — Some analysts estimate the UAW's nationwide strike against General Motors has cost the company about $1 billion so far. But GM can withstand the financial losses because of what it stands to gain with a new UAW contract: a deep discount to labor costs. That's a big deal. Industry-wide, labor is about 5.1% of the cost of the average vehicle, according to the Center for Automotive Research in Ann Arbor.

Full story: Detroit News

Friday, October 4, 2019

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