The United Auto Workers expanded its strike against major automakers Friday, walking out of 38 General Motors and Stellantis parts distribution centers in 20 states.
Another 5,600 additional workers joined the strike on top of the 13,000 of the 146,000 members that began the strike one week ago.
Ford was spared additional strikes because the company has met some of the union’s demands during negotiations over the past week, said UAW President Shawn Fain.
“We’ve made some real progress at Ford,” Fain said during an online presentation to union members. “We still have serious issues to work through, but we do want to recognize that Ford is showing that they are serious about reaching a deal.”
“At GM and Stellantis, it’s a different story,” he said. Those companies, he said, have rejected the union’s proposals for cost-of-living increases, profit sharing and job security.
and used care prices are spiking again because of it. I personally bought a car for 12,000 about 7 years ago, put 80k on it in that time. I just transferred ownership of it to my business and it valued out at $10,000 now, 6 months ago it was $6,000.
Manufacturers don’t make used cars.
She means, people are expecting this strike to impact the availability of new cars, which is making used ones more valuable.
Ding ding ding.
Dealerships make money on used cars and parts/repairs. New cars are usually a loss for them
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They get kick backs, but they don’t sell that high over MSRP and many people are much more savvy about cost of new/features thanks to Edmunds, Cars dot com, KBB, and dealer incentives to move inventory.
If a dealership is making money on new, you’re not doing your work with car shopping. Most don’t make money from new.
I mean, unless you know something I don’t? My brother in law was in sales for Chevy for a few years so that’s where I get my info from.
There’s ~3% built into msrp for the dealer. Then there are kick backs from banks they are pushing you to finance through. Then there are extras that are basically 100% profit. Then there are dealer installed options. How much can they possibly be expected to make for providing parking space? Dealers are absolutely fucking useless outside of test drives. Every cent over msrp is basically theft.
Who takes a used car to dealer for service? Are you saying they make more money on used cars because they can price gouge more effectively?
There’s no way any effect move through the market this quickly.
What do you mean “this quickly”? The strike has been coming for a long time.
People don’t buy cars based on a strike that hasn’t happened yet.
someone made them. and if new ones aren’t rolling off the line people will buy used ones.
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Used car prices have been overinflated since Covid started. This isn’t anything new
People who support strikebreaking are pretending to care. That’s new.
They have, but they dipped pretty significantly last winter. Now it’s almost back up to the covid peak.
speculators…
unless these strikes keep up for real, i doubt there will be enough impact to raise used car prices for real. i am sure koreans japs and germans will step right in. also, many of american cars are made in mexico lol
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Jesus the downvotes.
Why does lemmy hate discussion? It’s worse than fucking reddit. Smdh.
because pointing out the real world consequences to actions that people like is a no-no. right, wrong, or indifferent, the economy reacts to news.