Ford turned around its Q3 earnings this year, finishing in the black compared to year-ago results; however, the newly minted tentative agreement with the UAW is tempering the any enthusiasm about the results. Headlight.News has details.
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Ford Finished Q3 in the Black
Less than a day after reaching a deal with the UAW on a new 4.5-year contract, Ford reported a $1.2 billion net profit on revenue of $43.8 billion. The results are significantly better than the year ago period, when the automaker reported a loss. Find out more at Headlight.News.
UAW, Ford Reach Tentative Settlement – But Reopening Plants Could Take Weeks
The United Auto Workers Union reached a tentative settlement with Ford Motor Co. Wednesday evening, nudging the automaker to accept a wage hike averaging 25% over the course of 4.5 years for its UAW workers. The union also agreed to order an immediate end to the walkout though it will take weeks before all is back to normal, Headlight.News reports.
UAW and Ford Reach Tentative Deal
After more than a month of negotations, strikes, finger pointing, grandstanding and more, the UAW and Ford reached a tentative agreement.
UAW’s Stand-Up Strike Shuts Down Stellantis’ Full-Size Ram Pickup Plant
With no major progress reported in contract talks with Detroit’s Big Three automakers, the UAW ordered nearly 7,000 workers to walk out at the most profitable plant operated by Stellantis, its Ram pickup line in the Detroit suburb of Sterling Heights.
GM Tells UAW: Enough is Enough. There’s No More to Give
GM manufacturing chief Gerald Johnson took an end run around UAW leaders by providing striking workers a detailed look at the company’s latest contract offer. “These are not poverty wages,” he stressed, noting many union employees will make over $100,000 before benefits. GM, Johnson stressed, simply can’t offer any more if it hopes to remain competitive.
Tesla Cybertruck a Bust? “We Dug Our Own Grave,” Says Musk
Within a week of its 2019 launch, Tesla claimed to have logged 250,000 advance reservations for the Cybertruck, and CEO Musk claims the number is now up to 1 million. Yet, even with the all-electric pickup finally in production, it very well could turn into a bust, CEO Elon Musk telling investors and analysts “We dug our own grave with the Cybertruck.”
Ford Cuts Shift as F-150 Lightning Sales “Tank”
Ford dropped a shift at the Dearborn, Michigan plant assembling its all-electric F-150 Lightning. The automaker blamed “multiple constraints,” for the move, but the UAW says the production cut comes as sales “have tanked.” If anything, Ford had expected a growing surge in demand as it prepares a major expansion of capacity at its Rouge Electric Vehicle Center.
“This is Deeply Personal to Me;” Ford Chairman Bill Ford Calls for End to UAW Strike
Nearly five weeks in, there appears to be no immediate end in sight for the UAW’s strike against Detroit’s Big Three. In his first appearance since the union’s contracts with his company expired, Ford Chairman Bill Ford spoke out, warning the walkout could destroy the American auto industry, and saying “We need to come together to bring an end to this acrimonious round of talks.”
With Lightning F-150 Flash, Ford Targets the “Sweet Spot”
New model offers longer range, a bigger screen, a more efficient heat pump, standard BlueCruise at a “more accessible price.” Check it out at Headlight.News.
Farley Trying to Change Perception EV-Related Job Losses
Ford CEO Jim Farley and UAW President Shawn Fain are pointing fingers at one another as the strike by hourly workers continues, in part, due to potential job losses resulting from the shift to electric vehicles. Read the story at Headlight.News.
Ford Pauses Work on New, $3.5B Michigan Battery Plant
Automaker halts construction on Michigan battery plant, saying it needs to make certain it can operate it profitably. Predictably, the UAW is angry, accusing Ford of “shameful’’ threat to union jobs. All this while contract talks continue, reports Headlight.News.