Ford, GM Stocks Rebound To Pre-Strike Levels. GM Idles an Assembly Plant.

General Motors idled its Fairfax assembly plant in Kanas as the effects of the United Auto Workers strike widened.

Stellantis said it anticipates “similar actions at Kokomo Transmission and Kokomo Casting in Kokomo, Ind., affecting an estimated 300 employees at these two facilities,” as it monitors the impact of the UAW strike on its manufacturing operations. Stellantis stock gained 1.7% on Wednesday, while the S&P 500 is down about 0.9% and the Dow Jones Industrial Average is off about 0.2%.

“This is a growing nightmare situation for GM and Ford as both 313 [Detroit’s area code] stalwarts are in the early stages of a massive EV transformation path for the next decade that will define future success.

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Ford, GM Stocks Rebound To Pre-Strike Levels. Why Tesla Is the ‘Clear Winner.’The UAW has threatened to expand its strike to more plants if Ford, GM, and Stellantis fail to make “serious progress” by the end of the week.
Source: MarketWatch - 🏆 3. / 97 Read more »