Ford, General Motors stocks have largely recovered to pre-strike levels but with the United Auto Workers’ Friday deadline edging closer without signs of progress they could soon be back under pressure.
Wedbush analysts, led by Dan Ives, said the dispute was reaching a “fork in the road” and they feared the strikes could be “long and nasty” for the Detroit auto makers.The analysts said the company sits in a nonunion position and its biggest potential Detroit EV competitors “now face mounting costs and complexities in the years ahead.”
If the UAW’s demands for around 40% wage increases are met, it will be a major cost headwind for GM and Ford, and one that could be passed down to consumers through EV prices, they added.
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