GM and Mexico's National Independent Union for Workers in the Automotive Industry have reached a tentative agreement. The agreement includes a pay increase beyond Mexico's minimum wage and the current inflation rate. Mexican inflation rose 7.68% in April to its highest point since Jan 2001.
A milestone. The union still needs to present the contract to the Silao workforce before it can proceed. The exact raise is not announced, but the union’s original pitch was 19.2% and the GM counter was a much lower anchor of 3.2%.