How the GM strike could affect your next car purchase.
Nearly 50,000 members of the United Auto Workers Union walked out at General Motors overnight, a day after the union’s contract with the largest of the Detroit automakers expired.
Ironically, August new car sales were strong, at least briefly reversing the downward trend the industry had faced earlier in the year. That trimmed overall industry inventories to their lowest levels in three years, said Krebs. Even so, data from Cox indicated GM has about a 77-day supply of cars, trucks and crossovers, compared to the industry norm of 61.
Further complicating matters, the International Brotherhood of Teamsters on Sunday announced it will not transport GM vehicles while the UAW remains on strike, stranding some products at factory lots. But GM faces pressure of its own. The company has downsized since Mary Barra became its CEO in January 2014, among other things leaving the unprofitable European market. In November, it announced plans to close three North American assembly plants, including two in the U.S. The Lordstown, Ohio factory producing the Chevrolet Cruze sedanand another plant in Detroit producing multiple vehicle lines is expected to close next year.
Barra subsequently met with Trump at the White House, though the specifics of their conversation were not revealed.
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