Reports earlier today highlighted a tentative deal at General Motors to end the UAW auto strikes in the US after six weeks. It comes quickly after separate deals with Stellantis and Ford and includes similar terms like a 25% wage increase over several years, eventually reaching $40 over four-and-a-half years. Starting wages will also rise to $28/hour.
CNBC reports that the deals "reinstated cost-of-living adjustments, reduced an eight-year path to top wages to three years and allowed the right to strike over plant closures, among other significantly enhanced benefits."
Shares of automakers have struggled recently on signs that it's proving difficult to find product-market fit in the EV space, along with high interest rates.
