Detroit's Big Three automakers mourn the ongoing going UAW strike will end up costing many more jobs than just those in their factory.
This comes as suppliers hand out pink slips daily. Concerns are growing as many question the future of America’s auto industry.
Director of General Economics at the CATO institute Scott Lincicome joined The National Desk’s Jan Jeffcoat to discuss the issue. “The future is probably electric. Detroit automakers see the writing on the wall. They're spending billions of dollars to catch up to Tesla and others on electric vehicles but they have to get to that next stage somehow,” he said. “Right now, you have mixed signals in the market. Consumers are hesitant to buy EVs but the government is gung ho on making them and then of course you have those pesky union negotiations. So the whole transition here is really unclear.
Ford Executive Chair Bill Ford said the strike will cost the company's ability to invest in the future and is calling for en end to the strike. “You can make or mandate products all you want, but consumers still have to buy the right and they have to want to buy them. Right now, consumers are still hesitant on EVs for range. These automakers are kind of stuck but they need to keep offering EVs and they need truck sales to fund that Evie transition,” Lincicome said. “Government subsidies and regulations are going to make selling the traditional trucks harder and truck owners aren't buying the electric trucks.
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