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Expert: 'Automakers aren't as profitable as their counterparts' as UAW strike continuesFILE - United Auto Workers union members strike outside the Chrysler Toledo Assembly Plant in Toledo, Ohio on Tuesday, Oct. 3, 2023. The Union Auto Worker strike is costing worker’s jobs as the list of union demands hit economic reality.
Director of General Economics at the Cato Institute Scott Lincicome joined The National Desk’s Jan Jeffcoat to discuss the issue. “The biggest thing I think is simply quality or at least consumer perception of the quality. They're far behind companies like Tesla on the EV front,” he said. “There's also other economic factors. United plants tend to be bit less productive and less efficient, less innovative than non-unionized plants in the United States and abroad.”
Lincicome wrote an article with charts and graphs on the state of the American auto industry and says the big three automakers rank poorly on consumer surveys, dependability and value. The Detroit three have long been losing market share to other non-union companies. “The farming labor costs are a factor for these negotiations. Labor costs at the big three were about $64 an hour all in. That's compared to about $55 an hour at other plants in the United States,” Lincicome said. “That's a labor cost gap of about $900 million a year. So you put all this all together in Detroit, automakers just simply aren't as profitable as their counterparts.”Loading ...
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