2007 Chrysler Town & Country Stow N Go 15k Miles!! on 2040-cars

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Strike looms for FCA workers as soon as Wednesday night

A strike is on the very near horizon for at least some United Auto Workers members at FCA US. On October 6, the union sent a letter to the automaker that officially announced the termination of its agreements with the company as of 11:59 PM on Wednesday, October 7. Assuming that a deal or extension hasn't happened by that time, workers could hit the picket line. While neither side is talking much publicly, it does appear that negotiations are still underway. In a very brief statement, the automaker simply says: "FCA US confirms that it has received strike notification from the UAW. The Company continues to work with the UAW in a constructive manner to reach a new agreement." The UAW seems equally receptive, and it says in a post on Facebook: "Negotiations with FCA continue. Your bargaining team is hard at work and we will continue to post updates when there is more to report." If a strike happens, it could put a serious financial burden on FCA US. Economist Sean McAlinden from the Center for Automotive Research estimates the cost at as much as $40 million per week, according to Reuters. The union hasn't clarified at this time whether all of its workers with the automaker would stop working or if the picket lines would only be at specific plants. The first tentative agreement posted to UAW members working with FCA US utterly failed in voting. Raises and a healthcare co-op would have been among the new benefits. However, the employees were upset that the proposed deal retained a two-tier wage structure, and they also didn't like the lack of details about rumors of major production changes.

Junkyard Gem: 1978 Plymouth Volare Wagon

When it came time for Chrysler to retire the beloved but antiquated Dart and Valiant in the North American market, the Dodge Aspen and its Plymouth Volare twin were introduced for the 1976 model year. While the Aspen is better remembered today (partly because Aspens were in just about every cop TV show for a good decade and partly because Chrysler revived the Aspen name for a few years in the late 2000s), Plymouth's "small car with the accent on comfort" outsold the Aspen for every one of their five model years of production. Here's one of those Volares, a '78 station wagon with the Custom exterior and Premier interior packages, found in a Denver-area car graveyard recently. I thought this car looked very familiar, and it turns out that it spent many years parked in an alley driveway in my Denver neighborhood, next to a Dodge 600 sedan (which is still on the road; I saw it moving under its own power a few weeks ago). Back in the summer of 2020, I shot this photo for an episode of 24 Hours of Lemons Carspotting. Now I wish I'd talked a local Lemons team into offering a few bucks for this Volare, because it's better to race than to get crushed. Detroit went through an accent phase that started with the Volare and then continued with the Cadillac Allante and Oldsmobile Trofeo. The interior in this car still looks pretty good. This wagon has the exact same interior and exterior colors as the one in the Volare brochure that year. It's nicely equipped, with the optional 318-cubic-inch (5.2-liter) V8 and air conditioning (via the distinctive Chrysler V-twin compressor just in front of the carburetor). The base price on this car was $4,195 (about $19,890 in 2022 dollars), while the 318 cost $129 extra ($610 now). The A/C added $484 more ($2,295 today, and you can see how the price tag got bigger in a hurry with low-priced cars back in the 1970s). Believe it or not, a four-on-the-floor manual transmission was standard equipment in the '78 Volare with 318 engine, but I've never seen one so equipped; this car has the usual three-speed automatic. A cheap wagon like the Volare certainly wasn't going to come with a radio at the base MSRP (though a dealer might throw one in to sweeten the deal). This single-speaker, AM-only radio cost $74 extra ($351 in 2022 dollars).

Treasury says auto bailout tally drops to $20.3 billion

In December, the US Treasury announced that it was going to sell all of its shares in General Motors within 12 to 15 months. The first tranche of the 500-million total shares was purchased by GM, which took 200 million of them at $27.50 per share. That price represents an eight-percent premium over the market price at the time. The remaining 300 million shares will be sold "through various means in an orderly fashion."
Of the $418 billion disbursed through the Troubled Asset Relief Program (TARP), a report in Automotive News indicates that "about 93 percent" has been paid back, and the latest figures put Treasury's loss from the program overall at $55.58 billion. That's a $4.1 billion improvement on the last figure, when the expected red ink added up to $59.68 billion. The auto industry's portion of that loss is estimated to be $20.3 billion, a 16-percent drop from the earlier estimate of $24.3 billion.
The Treasury now owns 19 percent of GM, but if all goes well, there will be no more cause for anyone to utter "Government Motors" by the end of Q1 next year. A loss of some kind is still expected, however. Although GM's stock price is close to $29 at the time of this writing, that's still $4 below its IPO price and well below the $72 share price necessary for the government to come out even on its GM investment. On second thought, maybe the ribbing will continue.