Suppliers are also starting to suffer from the strike as workers walk off the line, impacting both assembly plants and the parts and components facilities that feed them.
The current standoff between the UAW and Ford, General Motors, and Stellantis has become the costliest of any auto industry strike since 2000, surpassing the contract negotiations between the union and GM that led to a strike in 2019.
An economic assessment of the strike against Detroit automakers, now in its third week with tens of thousands of employees off the line, finds the labor dispute has cost the industry $5.5 billion.The analysis comes with East Lansing-based Anderson Economic Group, which found the latest strike exceeded the UAW's dispute with GM in 2019, which lasted several weeks and led to $4 billion in losses.
The firm's CEO said this week the third week of the strike was more costly than the first two weeks due to the expanded strike hitting major plants in Chicago and near Lansing. It also noted the ripple effects were starting to impact further down the supply chain. "The stress suppliers are under has become acute, with more than 30% reporting that layoffs have already begun," said Patrick Anderson. Dealer and Customer losses: $1.26 billion
Had the UAW called on expanded strikes last Friday, the economic impacts still wouldn't have been included in the current forecast. However, since President Shawn Fain announced no new plants that the UAW would target, the economic hits won't be as severe.and found 30% had already done some form of layoffs. If the strike continues as it has already, that figure could double by mid-October.
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