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SaltWire's Atlantic regional weather forecast for October 20, 2023 | SaltWire - Businesses ranging from airlines to auto parts makers are starting to feel the heat from the month-long strike by hourly workers at the Detroit Three automakers, with analysts warning that the financial hit could increase if the walkout does not end soon.
Workers will also be careful about how they spend their money since strike pay is lesser than regular pay, he said. Analysts said trucking firms and suppliers that make parts for the General Motors, Ford Motor and Stellantis are among the most exposed to a strike, which has seen more than 34,000 workers walkout from their daily jobs.
"Suppliers are expected to feel the pinch from lower volumes in fourth quarter, but the pain will not be equally spread," BofA Global Research analyst John Murphy said. French car parts maker Forvia on Friday warned of possible temporary layoffs after estimating a bigger sales hit in October from the strike.
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