OEMs
Ford Reports ~80,000 Units Lost to UAW Strike
Written by Becca Moczygemba
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
Read more from Becca MoczygembaLatest in OEMs
Tariffs pressure consumers but boost Worthington Enterprises’ domestic edge
Worthington Enterprises’ consumer and construction-facing businesses delivered a confident opening act to fiscal 2026. But the story is nuanced — especially where tariffs, volumes, and HVAC demand intersect.
John Deere plans over 140 layoffs at two Iowa facilities
Over 140 John Deere employees at two of its Iowa facilities will be laid off in October.
HVAC equipment shipments down through July
Total heating and cooling equipment shipments eased again in July, according to the latest data released by the Air-Conditioning, Heating, and Refrigeration Institute (AHRI).
Steel Summit: Analysts say demand likely to struggle until 2027
Steel industry analysts at this year's SMU Steel Summit said they see lackluster demand through this year and next.
Chicago Business Barometer drops in August
The Chicago Business Barometer, a leading indicator for the broader US economy, remains in contraction, slipping 5.6 points to 41.5 in August.