Category Archives: economy

1,700 workers strike at Hankook Tire in Hungary

IndustriALL Global Union affiliate, the Federation of Chemical Workers of Hungary (VDSZ), which represents workers at Hankook’s Dunaújváros plant in central Hungary, says that 70% of 2,400 shift workers have joined the indefinite strike that began on 12 March.   Continue reading

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People Choose Low Loan Repayments and High Interest Rates

Borrowers appear to set targets for their monthly payment on rounded amounts like $200, $300, and $400, rather than choosing the most cost-efficient payments. When borrowers are offered cheaper loan terms, they are more likely to take out larger loans rather than pocket the savings. Continue reading

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Michigan to Make First AVs, but Loses Ford Transit to Mexico

In a transparent attempt at spin – in AI’s view laughable and tragic – Ford is re-adding a second shift at Flat Rock. The plant will become the production home to vehicles from the company’s next-generation battery electric flexible architecture. These vehicles will follow, ahem, the all-electric performance SUV coming in 2020 from Ford’s Cuautitlan, Mexico, plant. Continue reading

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BMW Manufacturing Largest US Auto Exporter Again

The news comes as the disastrous results of President Trumps’ trade tampering were published. (Trump Record Deficit Watch – Another Proposed Increase) The U.S.’s trade deficit in goods with the rest of the world rose to its highest level in history in 2018 as the United States imported a record number of products, including from China. This increased the deficit to $891.3 billion as Trump caree Continue reading

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IndustriALL Endorses Global Agreements to Fight and Shape Policy on the Growing Number of Auto Plant Closures

So whither auto plants with their well-paid, highly skilled and heavily unionized work? Plant closures and retrenchments in several countries is worrying for unions. Continue reading

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North American Production Up, But Sales Down

With 2018 in the rearview mirror, overall sales of imported vehicles increased by just over 2%, with imported SUV sales skyrocketing by more than 15%, due to a lack of regionally-produced models to meet the ever-growing demand for the boxy body style. Continue reading

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Trade Wars: FCA to Expand Production Capacity in Michigan

Given his vast international experience, Manley appears ideal to negotiate the choppy waters of ongoing and yet unknown trade wars and protect FCA’s investment of nearly $14.5 billion since 2009, with ~30,000 jobs created to date. All automakers are against Trump trade policy by twitter. Continue reading

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Millennials – Soon Largest Generation in US electorate

The growing gap by education is even more apparent when looking at annual household income of the elite. For households headed by Millennials ages 25 to 37 in 2018, the median adjusted household income was about $105,300 for those with a bachelor’s degree or higher, roughly $56,000 greater than that of households headed by high school graduates. The median household income difference by education for prior generations ranged from $41,200 for late Boomers to $19,700 for the Silent Generation when they were young. Continue reading

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Ford Exits Heavy Truck Business in South America

Most of these pre-tax special item charges and cash outflows of 4460 million will be recorded in 2019 and are part of the $11 billion in EBIT charges with cash-related effects of $7 billion the company expects to take in the redesign of its global business. Continue reading

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Global Light Vehicle Sales Start New Year with a Whimper

A worrisome ghost dancing across AutoInformed’s screen is that 2019 began in a cowed manner in most major markets with the weakness that has been evident for several months continuing. Chinese LV sales were again the most influential for the global market, with another double-digit YoY decline. China of course us is enmeshed in a Trump tariff tirade. Continue reading

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GM to Invest $36 Million in Lansing Plant. Oshawa Still Doomed

The announcement – some would call it tone deaf – came closely followed Sting and cast promoting Unifor’s #SaveOshawaGM campaign. Sting and the cast of his musical, The Last Ship, were in front of thousands of Unifor members and the public for a Valentine’s Day solidarity performance, held in the heart of downtown Oshawa. The legendary musician began with “Message in a Bottle,” and after several numbers from the musical, closed with “Every Breath You Take.” Continue reading

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Japanese-brand Automakers Generate 1.52 Million Jobs in US

It doesn’t estimate how many are lost to oversees manufacturing and imports. Thus, go the one-sided volleys in the ongoing automotive trade wars. Continue reading

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Trump Tariffs Hurt New Auto Prices, Jobs, Consumers

NADA is worried that under a 25% tariff on all imports and parts, “consumers would see the price of the typical vehicle sold in the United States rise by $4,400. Prices of U.S.‐assembled vehicles rise due to an increase in the cost of imported vehicle parts, adding $2,270 to the price. For the typical imported vehicle, these tariffs raise consumer prices by $6,875 per vehicle.” Continue reading

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EU Passenger car registrations ‐4.6% in January 2019

During January 2019, the European passenger car market saw a slow start to the year, posting a -4.6% decline compared to one year ago. This makes for six straight months of decline before the impending Brexit disaster takes hold.

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Doomsday? No-Deal Brexit Impact on UK Light Vehicle Market

If the UK leaves the EU without a deal, then the LMC assumption would be that vehicles exported to the EU from the UK would be subject to a tariff of 10% as the UK would, by then, have become a ‘third country’ under EU trade rules. Continue reading

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