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Making cars smarter: The growing role of electronics in automobiles
Electronics make up nearly 40% of the content of today?s average new automobile, and their share will continue to grow. On June 2, 2011, as part of the eighteenth annual Automotive Outlook Symposium (AOS), the Chicago Fed hosted a panel of experts at its Detroit Branch to examine the current and future roles of electronics in motor vehicles.
How UAW Negotiations with Ford, GM, and Stellantis Usually Work
In two previous blog posts, I’ve talked about the backdrop and environment for 2023 UAW negotiations with Ford, GM, and Stellantis, recent contract history, and how that history has impacted hourly labor costs, wages, and other conditions of work. In this post, I cover the typical process for these contract talks, which is largely guided by the UAW’s constitution and existing organizational structures. In the first post in this series, I also mentioned how 2023 might be different, so in this post I explain some of those differences and list what the UAW has publicly said are its ...
Recent UAW Contracts with Ford, GM, and Stellantis
The U.S. auto industry is highly cyclical and even when the overall industry is up or down, the fortunes of individual UAW-represented automakers have waxed and waned. What follows is a summary of previous rounds of bargaining between 2003 and 2019. Contracts during this period were for four years, though the parties could—and can in the future—agree to any term. This blog post first discusses recent trends in U.S. wages and market share for the UAW-represented firms to provide the long-term wage context of bargaining and then provides high-level summaries of recent bargaining rounds.
2023 UAW Contract Negotiations with Ford, GM, and Stellantis
The U.S. automotive industry is a large and critical part of the U.S. economy, and nowhere is that more apparent than in the Federal Reserve’s Seventh District, home of the Federal Reserve Bank of Chicago.1 About 60% of the UAW members impacted by this year’s high-profile UAW labor negotiations with Ford, General Motors (GM), and Stellantis work in the Chicago Fed’s District.2 These three companies produce just over half of all their U.S. vehicle output, 40% of all U.S. engine plant output, and 75% of all U.S. transmission plant output in Illinois, Indiana, and Michigan—three of the ...
Detroit back from the brink? auto industry crisis and restructuring 2008–11
While it is hard to say how much of the current auto sector recovery is attributable to government intervention, the ensuing restructuring of the Detroit Three has substantially changed the industry in the U.S.