The ongoing United Auto Workers strike against Detroit's Big Three automakers could help non-union Tesla improve its cost advantage over its rivals in the EV space.
Rep. Tim Walberg, R-Mich., discusses whether the United Auto Workers strike will force Washington to address EV issues on The Big Money Show.against the Big Three automakers may make non-union Tesla the biggest winner by allowing it to expand its cost advantage over its rivals in Detroit.– Ford, General Motors, Stellantis – in part because it lacks the overhead that comes from the wages and benefits paid to unionized workers.
"Our worry is this could be a long and nasty strike which would be an absolute debacle for the Detroit Three. Take this UAW deal on the table and the business models in Detroit are not sustainable/profitable… a very frustrating quagmire situation as Barra and Farley have done a good job transforming the stalwarts" to compete in the EV space, the analysts wrote.
They added, "On the other hand non-union Tesla does not face similar issues which speaks to the complexity both GM and Ford face going up against the EV leader Tesla, while trying to satisfy rising union demands. If a strike is lengthy then ultimately production and the EV roadmap could be pushed out into 2024 and delays would be on the horizon at this crucial period for GM, Ford, and Stellantis.
The UAW is seeking a 36% raise for rank-and-file members over four years, down from an initial demand of 46% wage increase over that period. It is also pushing for cost-of-living pay adjustments, an end to forced overtime, and increases in pension benefits for current retirees and the restoration of pensions for new hires, among other benefits.
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