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Ford, Stellantis workers join those at GM in ratifying contract that ended UAW strikes

DETROIT — The United Auto Workers union overwhelmingly ratified new contracts with Ford and Stellantis, that along with a similar deal with General Motors will raise pay across the industry, force automakers to absorb higher costs and help reshape the auto business as it shifts away from gasoline-fueled vehicles. Workers at Stellantis, the maker of Jeep, Dodge and Ram vehicles, voted 68.8% in favor of the deal. Their approval brought to a close a contentious labor dispute that included name-calling and a series of punishing strikes that imposed high costs on the companies and led to significant gains in pay and benefits for UAW workers. The deal at Stellantis passed by a roughly 10,000 vote margin, with ballot counts ending Saturday afternoon. Workers at Ford voted 69.3% in favor of the pact, which passed with nearly a 15,000-vote margin in balloting that ended early Saturday. Earlier this week, GM workers narrowly approved a similar contract. The agreements, which run through April 2028, will end contentious talks that began last summer and led to six-week-long strikes at all three automakers. Shawn Fain, the pugnacious new UAW leader, had branded the companies enemies of the UAW who were led by overpaid CEOs, declaring the days of union cooperation with the automakers were over. After summerlong negotiations failed to produce a deal, Fain kicked off strikes on Sept. 15 at one assembly plant at each company. The union later extended the strike to parts warehouses and other factories to try to intensify pressure on the automakers until tentative agreements were reached late in October. The new contract agreements were widely seen as a victory for the UAW. The companies agreed to dramatically raise pay for top-scale assembly plant workers, with increases and cost-of-living adjustments that would translate into 33% wage gains. Top assembly plant workers are to receive immediate 11% raises and will earn roughly $42 an hour when the contracts expire in April of 2028. Under the agreements, the automakers also ended many of the multiple tiers of wages they had used to pay different workers. They also agreed in principle to bring new electric-vehicle battery plants into the national union contract. This provision will give the UAW an opportunity to unionize the EV battery plants plants, which will represent a rising share of industry jobs in the years ahead.

Here are the Challenger SRT Demon's bare-minimum performance numbers

This week's Dodge Challenger SRT Demon teaser video provides what seems like more concrete evidence than any of the others before it. We say it seems that way because the numbers flashed on the screen are likely not showing us everything the car has to offer. So we're looking at these as the minimum performance stats and expecting Dodge to reveal even crazier numbers alongside the car next month. The video also provides some hints at features and modes the car will offer. Let's pick it apart. First off, there's the performance data from the various SRT Performance Pages screens. The 0–60 mph time is 3.0 seconds, which compares well to the "regular" Hellcat's 3.5-second manufacturer claim. Then there are two 0–100 times: 6.08 and 6.8. An eighth-mile time of 6.6 seconds at 125 mph and a quarter-mile time of 0.5 seconds at 129 mph lead us to believe the driver lifted off the throttle in that second eighth-mile and that the car will actually do the quarter in the low 10s. For reference, Dodge claims an 11.2-second quarter for the Hellcat on its street tires and a 10.8 with race slicks. View 7 Photos We also get a cryptic message about the supercharger boost pressure, which suggests it will be higher than the 11.6 psi of the 6.2-liter Hellcat engine. A graph shows it heading up toward 10 psi but the final spike is obscured by a Demon head. Cute. There's a hint at horsepower and torque numbers in a graph on the Dyno page, which shows both peaking around 750. In every shot of this video, the clock is set to 7:57, which we think means it either has that much power or, well, more. We think there's more to it because it appears that part of the graph above the dyno run shown, which would reach to 800 or 850, has been blanked out. A horsepower total of 808 would be a nice complement to the Hellcat's 707, don't you think? We can see from the shift indicator screen that the car will come with or at least offer the eight-speed automatic that's also available in the Hellcat and other Challengers. That's likely to be the best option for drag racing. The Demon's user-defined shift light feature, which lets you choose an optimal shift rpm for each individual gear, also suggests that a six-speed manual will be available. We'll cover the many modes and settings highlighted in this video in a separate post. There's a lot to discuss. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

Stellantis won't race to split electric vehicles from fossil fuel cars

MILAN - Stellantis is not considering splitting its electric vehicle (EV) business from its legacy combustion engine operation, its finance chief said on Thursday, as the carmaker presented above-expectation revenue data for the first quarter. Chief Financial Officer Richard Palmer told analysts he did not see huge benefits in the kind of separations pursued by rivals such as France's Renault and U.S. Ford. "We need to manage the company and the assets we have through this transition," he said. "There are benefits to having the cash flow being generated by the internal combustion business for the investments we need to make." Palmer said the group, formed by a merger last year of Fiat Chrysler and Peugeot maker PSA, was not averse to considering adjusting its structure "but we aren't anticipating any big changes." Palmer's comments came after the world's fourth largest carmaker said its net revenue rose 12% to 41.5 billion euros ($44.1 billion) in the January-March period, as strong pricing and the type of vehicles sold helped offset the impact of the semiconductor shortage on volumes. That topped analyst expectations of 36.9 billion euros, according to a Reuters poll. Milan-listed shares were up 0.5% by 1415 GMT, in line with Italy's blue-chip index. The impact of the chip crunch was evident in the decline in shipment figures which fell 12% in the quarter to 1.374 million vehicles. It was a similar story for Germany's BMW which posted higher revenues on Thursday and a decline in car sales. Riding the Recovery Stellantis, whose brands also include Citroen, Jeep and Maserati, confirmed its 2022 forecasts for a double-digit adjusted operating income margin, after 11.8% last year, and a positive cash-flow despite supply and inflationary headwinds. Morgan Stanley analysts said after the results that Stellantis had better management than many peers and benefited from its significant exposure to a stronger U.S. economy and a European recovery from the COVID-19 pandemic. They also said it was less affected by a slowing Chinese economy. Palmer said it was important for the group to maintain double-digit margins and keep delivering positive cash flows. "A 12% increase in revenue with a 12% decrease in volumes indicates a very strong performance on price and mix, which augurs well for our margin performance," he said. He said semiconductor supply problems were expected to ease this year with continued improvements in 2023.