UAW threatens more strikes: Demands include pay, cost of living increases, pensions

After President Biden joined striking auto workers on the picket line in Michigan, the United Auto Workers (UAW) union has confirmed its plans to expand its strike on Friday, September 29, if no progress has been made in labor negotiations. Investors are left wondering how long Big Three automakers Ford (F), General Motors (GM), and Stellantis (STLA) can hold out. Tom Narayan, RBC Capital Markets Lead Equity Analyst — Global Autos, spoke with Yahoo Finance Live anchors Julie Hyman and Josh Lipton to discuss what the profit margin squeeze could look like if the strike continues. "There is some degree of political theater here, right? Both sides that don't really want to cave in," Narayan says. "UAW coming in with a very unprecedented high demand — 40% increase in labor costs — and then the OEMs they have a situation they're facing which is coming off really high price mix that's probably going to start normalizing. So that is going to pressure their profitability, they definitely don't want to pay higher wages on top of that." Narayan also reacts to Tesla (TESLA) CEO Elon Musk's beliefs that the UAW strike could ultimately bankrupt the Big Three operators. For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.
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Видео UAW threatens more strikes: Demands include pay, cost of living increases, pensions канала Yahoo Finance