Posted on 11/13/2023 5:06:00 PM PST by Olog-hai
South Korean automaker Hyundai has joined Honda and Toyota in raising factory worker wages after the United Auto Workers union reached new contract agreements with Detroit automakers.
Hyundai said Monday it will raise factory worker pay 25% by 2028, matching the general wage increase won by the UAW during that period. Toyota raised factory pay 9% to 10% starting in January, while Honda said it will increase wages 11% during the same period.
Labor experts say the increases are at least in part aimed at thwarting UAW President Shawn Fain’s strategy of trying to organize U.S. auto plants run by foreign automakers and Tesla in order to increase the union’s bargaining power. Fain said terrified auto executives at nonunion plants are raising wages, and he called Toyota’s pay increase the UAW bump.
“UAW, that stands for ‘You Are Welcome,’” he said. …
(Excerpt) Read more at apnews.com ...
No problem. The union COMMIE scumbags just raised the prices of cars again. Car buyers will be payin’ for dem raises. Embrace the suck.
I’m sure not getting a pay raise like that.
Better buy that new car soon because it will be unaffordable in a few weeks.
Brilliant move, workers get the increases and UAW gets screwed! No reason for those workers to join the UAW and pay the dues.
Just saying...
Electric cars keep getting cheaper.
Hyundai's automobile plant is in Montgomery, Alabama. It is an inexpensive place to live.
Yep AP will paint the union as hero’s but every person who buys a car will be paying this extortion money. Between this and the fascist CAFE standards it’s going to cost $100,000 for a Ford focus
If anyone is worried about higher wages causing higher prices, they are free to ask their employer for a wage decease.
However, my guess is that no one is will ask for a pay cut so that consumers can save a few dollars.
Interned Japanese Americans got $20k for their WW2 internment. Why bring it up? They followed in the steps of the Civil rights movement. Fire hoses and barking dogs for blacks. 3 piece suits and lawyers for the Asians. Who did the heavy lifting in their fight?
I wonder how much percentage of a vehicle’s cost is from labor?
Average vehicle pricing can be, as follows:
10-15% of the cost falls to labor,
20-30% of the cost is materials,
50-60% of a vehicle’s cost is overhead expenses, containing the factory that builds the car, the pile of engineers employed by each manufacturer, advertising and marketing costs, the corporate structures like HR, accounting, etc.,
10-20% of the cost goes to engine development costs, modeling, and many more. These expenses are often included in the overhead percentage above, and
5% is profit (more or less)
Electric cars keep getting cheaper.
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Not even if they were “buy one, get one free”.
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