Auto workers want 40% pay increases. Analysts worry that will drive up car prices and make it harder for Ford, GM, and Stellantis to compete with Tesla.

Wed, 08/30/2023 - 14:59

Ford cars — If automakers have to pay more for their labor, they might pass on increased costs to consumers, analysts fear.
Eric Thayer/Getty Images

Workers at Ford, GM, and Stellantis are fighting the automakers for higher wages.
The United Auto Workers union is targeting a 40% wage increase in its ongoing contract negotiations.
That could ultimately result in higher car prices for consumers — especially for EVs.

Workers at Ford, GM, and Stellantis are fighting for 40% pay increases — but analysts worry that will drive up car prices and ultimately, make it harder for these auto giants to compete with Tesla.