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GM and Stellantis layoffs, new UAW proposal, Fed skips rate hike

Inside Automotive

Eddie Hall III joins Inside Automotive to discuss how Michigan dealers are working with OEMs to navigate a changing industry landscape.Why Michigan dealers and OEMs are growing together not apart — Eddie Hall III | NAMAD
Michigan dealers have the honor of working within the very heartland of the American automotive industry. However, much has changed for the state, its car owners and its retailers in only a few years. The arrival of electric vehicles, the proliferation of digital retailing technology, heightened awareness of consumer pain points and constant inventory fluctuations have caused the market to evolve. Watch full segment here.

Top Stories

General Motors and Stellantis joined Ford in laying off employees on Wednesday as the three automakers contend with manufacturing disruptions caused by the ongoing United Auto Workers strike. After warning its team members over the weekend that workforce reductions would be forthcoming if an agreement was not reached with the union in time, General Motors paused production at its Fairfax assembly plant in Kansas, leaving 2,000 employees without a job. Read More

Stellantis has submitted a new proposal to the United Auto Workers union but allegedly declined to back down from its previous pay offer.Stellantis submitted a new contract proposal to the United Auto Workers union six days after strikes against Detroit car manufacturers launched at three major assembly plants. Between the Big-Three automakers, Stellantis’ clashes with United Auto Workers leaders have arguably been the most frequent and certainly the most theatrical. The company’s original contract, sent in August, was swiftly denounced by union president Shawn Fain, who bluntly expressed his sentiments toward the proposed terms by throwing a copy into a trash can during a Facebook livestream. Read More

The continuous emigration of automakers to the anti-union South looms over the United Auto Workers strike. The car industry began shifting south in the 1970s and 1980s, a region long known for its anti-labor union sentiment and low wages.

The continuous emigration of automakers to the traditionally anti-union South looms over the United Auto Workers (UAW) strike. The auto industry began shifting south in the 1970s and 1980s, a region long known for its anti-labor union sentiment and low wages. Since then, the number of higher-paid UAW workers on Detroit’s Big Three assembly lines has decreased. Additionally, automakers like Volvo, Mercedes-Benz, BMW, Toyota, and Hyundai have progressively begun hiring non-union autoworkers in the South who receive less money for essentially the same work, according to reporting from CNNRead More

The Feds no longer expect recession policy

As anticipated, the Federal Reserve maintained rates regarding the declared short-term rate policy. However, they also clarified that there may be more rate increases in the future because they are still “highly attentive to inflation risks.” Furthermore, the Fed will meet two more times: November 1 and December 13. The Fed recently updated its economic projections upward, and its new estimates of GDP and the unemployment rate suggest that they no longer anticipate a recession, which is encouraging for the auto industry. Read More

For Dealers

Detroit's Big 3 confront a pivotal UAW strike. Explore a week of tension, GM's defense, Trump's stance, and Biden's response.Weekly roundup: UAW strike — week 1 recap and expert insights
Tensions escalated between the United Auto Workers (UAW) and Detroit-Three automakers, with the situation rapidly capturing national attention. General Motors president Mark Reuss responded to allegations about the company’s wage policies, while former president Donald Trump made waves by choosing to address the UAW over attending a GOP debate. UAW president, Shawn Fain, remained steadfast while facing layoffs from industry giants GM and Ford. As the strike continues to grip automakers, its implications ripple across various spheres, prompting responses from President Joe Biden and analysts alike. Read More

These transformative technologies range from predictive analytics and digital assistants to augmented reality interfaces and connected cars.Beyond autonomous driving: Exploring cutting-edge technologies reshaping the automotive landscape
Remember the days when your phone could only call others? In 2023, phones have computing power that rivals computers used in the Apollo 11 mission. It’s looking as if cars might be following the same path. The automotive industry is at the forefront of technology innovation, especially regarding autonomous vehicles. However, several new technologies are quietly gaining traction beyond autonomous driving and could change the face of the automotive industry in the near future. It’s causing today’s cars to evolve from moving people from point A to point B. Read More

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