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Oct 2 - U.S. new vehicle sales likely rose in the third quarter on improving supply and steady demand, but a strike by autoworkers has muddied the outlook for the"Detroit Three" for the rest of the year, analysts said.
But that may change after the United Auto Workers union launched unprecedented, coordinated strikes against GM, Ford and Stellantis last month. The UAW union initially targeted one assembly plant at each of the Detroit Three automakers that make some of their most profitable models and later expanded the coordinated strike, citing a lack of progress in talks.
S&P forecast daily losses from the strike at the three plants at over 4,000 units, warning further walkouts may lead to cumulative losses reaching hundreds of thousands of units.
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US new auto sales likely rose in Q3, but UAW strikes may pose speed bumpU.S. new vehicle sales likely rose in the third quarter on improving supply and steady demand, but a strike by autoworkers has muddied the outlook for the 'Detroit Three' for the rest of the year, analysts said. General Motors was set to remain the top-selling automaker with 680,009 vehicles sold in the quarter ended September, while second-placed Toyota was expected to finish the quarter at 583,661 vehicle sales, according to car shopping website Edmunds. But that may change after the United Auto Workers (UAW) union launched unprecedented, coordinated strikes against GM, Ford and Stellantis last month.
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