UAW strike threatens to drive up car prices
FOX Business' Grady Trimble speaks with General Motors CEO Mary Barra amid the United Auto Workers' strikes.
The United Auto Workers are officially on strike against the Big Three Detroit automakers, a move that threatens to strain vehicle supply and send prices marching higher.
The longer the walkout lasts, the greater the risk it poses to Americans' ability to buy a new or used vehicle.
«If the strike gets kind of widespread, it’s not really just the Detroit automakers that will see higher prices,» Tyson Jominy, vice president of data and analytics at JD Power, told FOX Business. «Consumers of any brand are likely to see higher prices if the strike persists somewhere around four to six weeks or so.»
The strike is limited in scope so far as the UAW seeks to preserve its $825 million strike fund, which would support a walkout for about 11 weeks by the 146,000 union members. But the union has threatened to expand the walkout on Friday if Ford, General Motors and Stellantis — the maker of Jeep and Chrysler — fail to make «substantial progress» in negotiations.
SEN. BERNIE SANDERS TORCHES AUTOMAKER CEOS AT UAW STRIKE RALLY: ‘TIME TO END YOUR GREED’
Supporters and workers cheer as United Auto Workers members go on strike at the Ford Michigan Assembly Plant in Wayne, Michigan, on Friday. (Bill Pugliano/Getty Images / Getty Images)
On Tuesday, about 13,000 autoworkers entered a fifth day of picketing at three assembly plants in Michigan, Ohio and Missouri, which primarily focus on producing mid-sized pickup trucks as well as some Jeep Wranglers and Ford Broncos.
«They seem to be targeting a space that has very limited inventory to begin with,» Jominy said. «So if you’re a consumer, and you’re looking for a mid-sized pickup
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