As the current labor contract between automakers and autoworkers expires the corporate media has jumped in to defend their ad buyers. Yesterday, the national news featured a story that a UAW Strike could make cars more expensive. Even though labor cost in only five percent of vehicle cost is that the reason vehicle prices have gone up?
CarScoops shares the fact that New Car Prices Surge 30% as Automakers prioritize lean inventory and PROFITS!
According to JP Morgan, the average price of a new car sits at around $50,000, or roughly 30 percent above what it was in 2019. What’s at the heart of such a gigantic jump? Well, the pandemic, the chip shortage, and other factors didn’t help, but by now many expected relief.
Expect relief? With the Big 3 reporting $250 billion in profits the last ten years it is clear their profit driven strategy is paying off for executives and shareholders. Since 2019, UAW wages have increased 6%. Prices up, Executive compensation up, Shareholder return up, all benefit the Automakers. Autoworker pay and the national average pay of all workers is substantially less than the rate of return the automakers are enjoying.
Time for media to tell the truth and workers to stand up for their fair share.
(free image via pexels.com)
