BUZZ-Ford, GM down after US auto workers launch simultaneous strikes at Detroit Three

Reuters · 09/15/2023 08:32
BUZZ-Ford, GM down after US auto workers launch simultaneous strikes at Detroit Three

** Shares of Ford Motor F.N and General Motors GM.N down ~2% in premarket trade

** The United Auto Workers union on Friday launched simultaneous strikes at three factories owned by GM, Ford and Chrysler-owner Stellantis STLAM.MI

** The walkouts at the "Detroit Three" will halt production of Ford's Bronco, Jeep Wrangler and Chevrolet Colorado pickup truck, along with other popular models

** "We believe a strike lasting longer than 4 weeks would be a body blow to EV ambitions of GM and Ford in 1H24 and delay many aspects of this initial important EV push." - Wedbush

** YTD, Ford up ~14%, GM marginally up


(Reporting by Nathan Gomes in Bengaluru)

((Nathan.Gomes@thomsonreuters.com;))