![]() The Zacks Consensus Estimates for MOD’s 2023 sales and earnings imply year-over-year growth of 11.43% and 43.09%, respectively. Modine operates primarily in a single industry consisting of the manufacture and sale of heat transfer equipment. The Zacks Consensus Estimates for WNC’s 2023 sales and earnings imply year-over-year growth of 13.06% and 28.89%, respectively. Wabash is one of the leading manufacturers of semi-trailers in North America. The Zacks Consensus Estimate for VLVLY’s 2023 earnings imply year-over-year growth of 6.25%. The Volvo Group is a manufacturer of trucks, buses, construction equipment, diesel engines and marine and industrial engines. You can see the complete list of today’s Zacks #1 Rank stocks here.Ī few Zacks Rank #1 (Strong Buy) players in the auto space include Volvo VLVLY, Wabash National WNC and Modine Manufacturing MOD. GM currently carries a Zacks Rank #3 (Hold). Nissan, Audi and Volkswagen are among the other automakers that have agreed to raise compensation by 9%, 9.4%, and 9%, respectively. The raise at Silao plant will go into effect on Mar 25 for one year and is believed to restore the purchasing power of workers in the face of high headline inflation. Speaking about the current raise the Silao union, SINTTIA said, “This overcomes the two-digit barrier that has not been reached in the automotive industry in many years.” The 10% hike is one of the sector’s biggest recent raises in Mexico. The automaker has reached an agreement with the local union to raise salaries in Silao plant. Dan Flores, GM’s spokesperson, said, "GM is actively working with our suppliers to resolve this supply chain challenge in order to meet high customer demand for our vehicles." Production at the Silao-based plant is expected to resume by Mar 21. However, to proactively control inventory levels, GM announced to keep Fort Wayne, IN, truck plant shut for two weeks, starting Mar 27. There is no hint of a halt in production at GM’s other truck plants based in Flint and Oshawa, Ontario. The Silao-based plant builds GMC Sierra and the light-duty Chevrolet Silverado. The production has been down since last week due to a scarcity of parts. This rot might continue.General Motors GM confirmed the halt in production of light-duty trucks in its Silao-based plant. However, Ford, GM and Stellantis fell 2.1%, 1.8% and 1.6%, respectively, on Monday, as it became clear that the strike will be a longer ordeal than previously thought. The Detroit automaker wouldnt say how many workers it is targeting, but confirmed that the move is aimed at accelerating attrition to meet a. salaried workforce and some global executives in an effort to trim costs as it makes the transition to electric vehicles. While Stellantis and Ford have been having a good year, with stock prices increasing 45.5% and 15.4%, respectively, General Motors has remained flat, falling a mere 0.1%. DETROIT (AP) General Motors is offering buyouts to most of its U.S. It remains to be seen whether further inroads are made as talks continue. Ford and General Motors, however, have remained unrelenting and insisted that the strike would push them to lay off workers in the upcoming week. There has been some headway made with Stellantis, which has improved its offer to the UAW over the weekend in the order of an immediate 10% increase in pay and a 21% wage increase over the course of the contract. Insisting that the industry needed labor agreements for the future, Biden has also sent senior government personnel to act as a negotiator between the striking labor force and the Big Three. Support has also come in from the upper echelons of the government, with no less than President Biden supporting what he sees as the UAW’s effort to secure fair wages for the workers. The number of people participating in the strike is less than 10% of the total UAW membership, but in choosing these strategic plants, UAW president Shawn Fain has insisted that they are going to hit where they “need to hit”. STLA, comes at a time when labor unions in the United States are experiencing increased approval among the public, notwithstanding declining membership in recent years.Īround 12,700 UAW workers have taken part in the strike and have targeted three plants - GM's Wentzville, MO, plant, Stellantis' Toledo Assembly and Ford's Michigan Assembly Plant in Wayne. This coordinated strike, a historic event with the union simultaneously striking against the Big Three automakers, General Motors Company GM, Ford Motor Company F and Stellantis N.V. ![]() The United Auto Workers’ (“UAW”) strike continues to make headlines as the impasse enters its fourth day.
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