Industry Round-Up: UAW, Ryder, Toyota, and Hyundai

UAW Strike Update

Here is an update on the UAW strike. Most of this information was gathered on Friday, so things may have changed over the weekend. Keep checking this email to see updates as they are made available.

• UAW Strike Expansion:
• UAW approaches extended strike against Detroit automakers: GM, Ford, and Stellantis.
• The critical strike deadline is set for Friday at noon.
• Key Negotiation Issues:
• Central topics: hourly pay, retirement benefits, work-life balance, and cost-of-living adjustments.
• Minimal progress since strike initiation on September 15.
• Significant disparity between union demands and automaker offers.
• Wage Disputes:
• UAW demands a major wage increase and aims to eliminate tiered wage structures.
• Automakers' proposed increases fall short of UAW's expectations.
• Potential Impact:
• More union members might join the strike, affecting US economic growth and global auto supply.
• Additional Points:
• UAW reports progress with Ford.
• GM and Ford have presented wage proposals.
• GM, Ford, and Stellantis prepare for more US work stoppages.
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🚚 Ryder Integrates BrightDrop EVs

Ryder System is actively integrating electric vehicles into its expansive fleet. Deploying its inaugural batch of GM's BrightDrop EVs across four pivotal US markets, Ryder demonstrates a strategic pivot towards sustainable logistics. As they scale their EV footprint, the industry will watch GM's ability to meet demand.

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🔥 Toyota's Strategic EV Expansion

Toyota's production strategy electrifies the news. Nikkei reports a significant ramp-up to 600,000 EVs by 2025, starkly contrasting with last year's modest 25K. With an ambitious target of 1.5 million sales by 2026, Toyota's commitment showcases a shifting industry paradigm dealerships must prepare for.
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🎉 Hyundai's Investment in EV Infrastructure

Hyundai recognizes the infrastructure challenges for new EV adopters. Hyundai is addressing a crucial component of EV ownership by offering a complimentary home charger and discounted installation for select vehicles. Dealerships can leverage this to showcase Hyundai's comprehensive EV approach, emphasizing long-term value and brand support.