GM, Ford slip after UAW warns of more walkouts, analysts say deal is close

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SaltWire's Atlantic regional weather forecast for October 23, 2023 | SaltWire - Shares of U.S. automakers Ford Motor and General Motors slipped about 1% each in morning trade on Monday after the United Auto Workers union warned of more walkouts unless a new labor deal is reached.

Though Fain signaled a deal may be close, some analysts expressed worries about the financial impact of the demands on the automakers. "Possibly a sign a deal could be done soon. However, most of the update was concerning as Fain interprets increased offers as a sign there is more to get," he said. The union and General Dynamics also reached a tentative agreement over a new labor contract covering hundreds of workers at some of the U.S. defense contractor's facilities, the company said on Monday.

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