The United Auto Workers have concluded their contentious contract negotiations with Detroit automakers. Ford autoworkers were the last to ratify their agreement, with 68.2% in favor. General Motors and Stellantis workers also approved their pacts. Despite the contracts’ record-setting wage increases, some GM employees were not entirely satisfied. The deals are valued at over four times the gains from the 2019 contract. UAW President Shawn Fain promises to use these unions’ gains to grow its ranks. On the company side, the contracts come with significant labor cost increases. According to Ford CFO John Lawler, this deal could add $850 to $900 in costs per vehicle assembled. He said Ford plans to offset these costs with productivity and efficiency improvements.
