UAW strike could drive up car prices, insurance costs autoblog.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from autoblog.com Daily Mail and Mail on Sunday newspapers.
J.P.Morgan on Thursday said supply
chain disruptions from a potential United Auto Workers
union strike would cut new vehicle production, drive up used car
prices and put pressure on margins in the.
J.P.Morgan on Thursday said supply chain disruptions from a potential United Auto Workers (UAW) union strike would cut new vehicle production, drive up used car prices and put pressure on margins in the personal auto insurance business. UAW is currently in talks with the Detroit Three automakers - Ford Motor, Chrysler parent company Stellantis and General Motors - ahead of the expiration on Sept. 14 of the current four-year labor agreements covering 146,000 workers. The automakers "represent about 40% of light vehicle auto sales (by units) in the U.S., and IHS Markit estimates that a strike would disrupt North American vehicle production by roughly 75%," J.P.Morgan said.
Potential UAW Strike Presents a Near-Term Headwind for Auto Insurers usnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from usnews.com Daily Mail and Mail on Sunday newspapers.
Shares of insurers Allstate and Progressive could be hurt by more-expensive policies if the United Auto Workers strike against the Detroit-Three automakers.