A UAW strike could lead to higher car prices and insurance costs because of a reduced supply of vehicles and repair parts.
— ahead of the expiration on Sept. 14 of the current four-year labor agreements covering 146,000 workers. in the U.S., and IHS Markit estimates that a strike would disrupt North American vehicle production by roughly 75%," J.P.Morgan said.insurers
are obligated to pay the fair market value of a car if it is deemed destroyed, JPM lead analyst Jimmy Bhullar said. The brokerage identifies Allstate and Progressive as the insurers with the most exposure to a potential UAW strike, with Allstate more susceptible due to its weaker capital position. Used-car prices have had the most impact on auto margins in recent years compared to other factors such as higher spare part costs, labor costs, increased litigation, and severe accidents, the brokerage added.
A UAW strike that shuts down the Detroit Three automakers could cost the manufacturers, workers, suppliers and
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