OEMs

Ford Reports ~80,000 Units Lost to UAW Strike

October 30, 2023

Ford Motor Co. said the United Auto Workers’ (UAW) strike has shaved ~80,000 vehicles from production.

Because of the significant value lost, Ford withdrew its guidance for the year, the automaker’s CFO, John Lawler, noted in Ford’s Q3 earnings call on Thursday, Oct. 26.

“Once we have a ratified agreement and begin to ramp operations, we will be in a better position to update you on our full-year guidance,” Lawler said.

The UAW strike has cost the Dearborn, Mich.-based company around $1.3 billion, Lawler stated.

Ford and the UAW reached a tentative agreement on Oct. 25.

Stellantis and GM‘s tentative agreements followed shortly after on Oct. 28 and Oct. 30, respectively. If all tentative agreements are ratified, it would signal an end to the strike against the “Big Three” that began on Sept. 15, targeted at specific facilities.

Stellantis declined to comment for this story. A spokesperson for GM noted that final numbers will be announced with Q4 and year-end earnings.

A rule of thumb in the industry is that each car contains approximately one ton of steel.

Becca Moczygemba

Becca Moczygemba is a reporter and editor for Steel Market Update. She has been in the steel industry since 2017, specializing in flat-rolled products. Prior to joining SMU, she held positions at Mitsui & Co. and Kloeckner Metals. Becca has a BA in Organizational/Corporate Communication from the University of Houston and an MBA from Norwich University. Contact Becca at becca@steelmarketupdate.com or 724-720-1000.