Transportation
GM Says UAW Strike Cost $200 Million Over the First Two Weeks
- Carmaker sets up $6 billion line of credit as walkouts drag on
- Move suggests GM is preparing for a prolonged work stoppage
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General Motors Co. said a historic strike by the United Auto Workers has already cost $200 million in the first two weeks, prompting the company to secure credit as it braces for more losses.
The union on Sept. 15 walked out of a Missouri plant that builds the company’s Chevy Colorado and GMC Canyon mid-size trucks. Sales of those two vehicles fell at least 10% in the quarter, according to GM. A week later, the strike expanded to include all of GM and Stellantis NV’s parts-distribution facilities in the US. A third assembly plant in Lansing, Michigan, was struck last week, stopping production of the Chevrolet Traverse and Buick Enclave crossover sport-utility vehicle models.