GM's third-quarter sales jump 21% as UAW strike slowly expands
Publishing timestamp: 2023-10-03 12:00:03
Summary
The ongoing strike by the United Auto Workers union against Detroit automakers, including General Motors, did not have a direct effect on GM's third-quarter U.S. new vehicle sales. GM reported a 21.4% increase in sales compared to the previous year. However, if the strike is expanded or prolonged, GM and other companies may face sales and supply chain problems. The impact of the strike has been limited so far, but certain vehicles, such as midsize pickups and large SUVs, may be more vulnerable to production disruptions. GM's sales in the fourth quarter were up, including an increase in electric vehicle sales. The company also saw growth in newer models imported from South Korea.
Sentiment: NEUTRAL
Tickers: GM,
Keywords: united states, labor economy, transportation, autos, breaking news: business, business, general motors co, business news, detroit,