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Nissan Finally Breaks Two-Year Profit Streak Amid Industry Turbulence
business29 days ago

Nissan Finally Breaks Two-Year Profit Streak Amid Industry Turbulence

Nissan posts its first quarterly net profit in two years (about $23.9 million) for the quarter ending June, aided by restructuring and cost cuts, while keeping its full-year forecast and outlining 20,000 job cuts by 2028; Toyota looks to a fifth straight quarterly profit decline amid a weak yen and earthquake disruptions, with roughly $7.04 billion expected and ongoing production challenges; Stellantis UAW member dies in a renovation-related accident in Center Line, Michigan; Ram recalls 1.5 million 1500 pickups globally for faulty second-row seatbelt anchors; gas prices remain flat around $4.10 per gallon.

via Jalopnik|
#business#nissan#ram
Stellantis Center Line tragedy spurs UAW probe
business29 days ago

Stellantis Center Line tragedy spurs UAW probe

A Stellantis worker with 30+ years in the UAW died Aug. 1 in an undisclosed accident at the Center Line Mopar distribution center; the UAW and Stellantis say they are investigating and withholding the employee’s identity out of respect, while authorities are involved. The building, previously Mopar admin offices, is currently unoccupied after relocation to Auburn Hills, and the UAW pledged to demand details and safety improvements to prevent future incidents.

via Detroit Free Press|
#business#center-line#mopar
Trump’s Michigan rally: ‘I’ve done more for you than your parents’ shocks autoworkers
us-politics1 month ago

Trump’s Michigan rally: ‘I’ve done more for you than your parents’ shocks autoworkers

Trump delivered a lengthy, rally-style speech at General Motors’ Milford Proving Ground in Michigan, portraying himself as the champion of autoworkers, branding UAW president Shawn Fain as a Democrat, and using the moment to stump for Senate hopeful Mike Rogers; he declared, 'I’ve done more for you than your parents,' railed at Democrats and the media, mocked Mexico’s pronunciation, and touted a future, booming economy with little in the way of new policy detail.

via The Independent|
#auto-industry#michigan#mike-rogers
Federal monitor accuses UAW chief of retaliation and personal conflicts of interest
business1 month ago

Federal monitor accuses UAW chief of retaliation and personal conflicts of interest

A federally appointed watchdog concluded UAW President Shawn Fain retaliated against a top officer and used his authority to benefit his fiancée and her sister, including seeking bonuses for non-union staff at a Stellantis training center and intervening in a workers’ compensation matter. Fain denies the findings as politically motivated, and the monitor has deferred a final decision pending further review ahead of the UAW leadership election. Rich Boyer was stripped of duties in response to pushback, though some duties were later reassigned; the UAW remains under federal oversight since a 2020 DOJ settlement.

via CNBC|
#barofsky#boyer#business
GM Replaces 1,000 Factory Jobs with 50 Cobots at Detroit EV Plant
business1 month ago

GM Replaces 1,000 Factory Jobs with 50 Cobots at Detroit EV Plant

GM has installed 50 Fanuc cobots at its Detroit Factory Zero EV plant, idling about 1,000 workers who are effectively laid off as automation takes over panel assembly; the move draws criticism from the UAW as a blow to workers and comes amid EV production slowdowns and looming 2028 contract talks, with some viewing it as a test of cobots and a cost-cutting measure.

via Futurism|
#automation#business#cobots
Michigan axle plant walkout tests GM pickup supply chain
business3 months ago

Michigan axle plant walkout tests GM pickup supply chain

Nearly 1,000 workers at Dauch Corp.'s Three Rivers, Michigan axle plant—an essential GM pickup supplier—walked off the job after negotiations failed. The UAW cites wage restoration from the Great Recession and improvements to healthcare, retirement, and other benefits, noting wages had fallen to as low as $14.50 in 2008 and now top out around $22/hour. GM says it’s monitoring the strike and production at its plants remains normal, with Stellantis reporting no expected impact at this time.

via CNBC|
#auto-industry#business#general-motors
UAW Strike Hits GM Axle Supplier in Three Rivers
business3 months ago

UAW Strike Hits GM Axle Supplier in Three Rivers

Nearly 1,000 UAW-represented workers at American Axle/Dauch Corp.’s Three Rivers, Mich., plant walked off after contract talks stalled, launching an unfair-labor-practice strike that could affect GM axles for heavy-duty pickups. The union cites wage cuts taken in 2008 and seeks higher pay, profit sharing, better healthcare, retirement terms, and stronger job protections. GM is monitoring the disruption but reports no production impact yet. The company rebranded to Dauch Corp. earlier this year.

via The Detroit News|
#american-axle#business#general-motors
Stellantis Skips Profit Sharing as Tariffs Bite, UAW Reacts
business6 months ago

Stellantis Skips Profit Sharing as Tariffs Bite, UAW Reacts

Stellantis posted a $2.2 billion North American loss last year, largely due to tariffs costing about $1.4 billion, leaving no margin to fund profit-sharing for 2025 and resulting in zero payouts for UAW workers—unlike Ford and GM, which still paid bonuses, and unlike Stellantis’ Italian salaried bonus which was also zero. UAW leaders criticized management amid a broad corporate reset, with hopes that improved results in 2026 could restore payouts if targets are met.

via Carscoops|
#auto-industry#business#profit-sharing
Stellantis withholds 2025 U.S. profit checks as NA margins slip
business6 months ago

Stellantis withholds 2025 U.S. profit checks as NA margins slip

Stellantis says UAW-represented workers won’t receive a 2025 profit-sharing payout because North America operating margin missed the thresholds set in the 2023 labor agreement, marking the first such omission since 2011; Ford and GM are paying thousands to their workers for 2025, while Stellantis posted a -3.1% margin in North America for 2025 and historically paid up to about $14,760 in 2022 and $13,860 in 2023, with payouts tied to margin and hours worked. The company cites a challenging year and notes actions like reintroducing the Hemi V-8 to support 2026 results.

via The Detroit News|
#automotive-industry#business#north-america
Trump donor Paulson plans to offshore Ohio brass plant to China, drawing union backlash
business6 months ago

Trump donor Paulson plans to offshore Ohio brass plant to China, drawing union backlash

Trump donor John Paulson plans to offshore Conn Selmer’s Eastlake, Ohio brass instrument plant to China by mid-2026, risking about 150 jobs and sparking resistance from UAW Local 2359; workers accuse the move of betraying Paulson’s stated support for domestic manufacturing, while Conn Selmer says the offshore shift will boost competitiveness and the company remains committed to U.S. manufacturing.

via The Guardian|
#business#conn-selmer#eastlake-ohio
UAW clinches historic tentative contract at VW's Tennessee plant
business6 months ago

UAW clinches historic tentative contract at VW's Tennessee plant

The United Auto Workers announced a tentative four-year contract with Volkswagen at the Chattanooga, Tennessee, plant, marking the union’s first agreement with a foreign automaker in the South. The deal includes a 20% wage increase, reduced health-care costs, job-security protections, stronger health and safety standards, a $6,550 signing bonus, and annual $2,550 bonuses, and now goes to a member vote for ratification.

via The Detroit News|
#business#labor-contract#ratification