Economics
Ford Avoids a Strike, While GM’s Suppliers Are Still Reeling
- Car components makers cut profit forecasts as shares tumble
- UAW says it landed $6 billion in product investments from Ford
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Ford Motor Co. managed to avoid a strike when it reached a tentative agreement with the United Auto Workers on a U.S. labor contract Wednesday, but suppliers to General Motors Co. are still suffering from the six-week walkout that halted production at more than 30 American factories.
Auto-parts makers’ shares are sliding after reporting lower sales and cutting profit forecasts following the strike at GM that ended Oct. 25 when more than 48,000 workers ratified a new four-year contract.