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The UAW's 'record contract' hinges on pensions, battery plants

DETROIT - After nearly four weeks of disruptive strikes and hard bargaining, the United Auto Workers and the Detroit Three automakers have edged closer to a deal that could offer record-setting wage gains for nearly 150,000 U.S. workers. General Motors, Ford Motor and Chrysler parent Stellantis have all agreed to raise base wages by between 20% and 23% over a four-year deal, according to union and company statements. Ford and Stellantis have agreed to reinstate cost-of-living adjustments, or COLA. The companies have offered to boost pay for temporary workers and give them a faster path to full-time, full-wage status. All three have proposed slashing the time it takes a new hire to get to the top UAW pay rate. The progress in contract talks follows the first-ever simultaneous strike by the UAW against Detroit's Big Three automakers. The union began the strike on Sept. 15 in hopes of forcing a better deal from each major automaker. But coming close to a deal is not the same thing as reaching a deal. Big obstacles remain on at least two major UAW demands: restoring the retirement security provided by pre-2007 defined benefit pension plans, and covering present and future joint- venture electric vehicle battery plants under the union's master contracts with the automakers. On retirement, none of the automakers has agreed to restore pre-2007 defined-benefit pension plans for workers hired after 2007. Doing so could force the automakers to again burden their balance sheets with multibillion-dollar liabilities. GM and the former Chrysler unloaded most of those liabilities in their 2009 bankruptcies. The union and automakers have explored an approach to providing more income security by offering annuities as an investment option in their company-sponsored 401(k) savings plans, people familiar with the discussions said. Stellantis referred to an annuity option as part of a more generous 401(k) proposal on Sept. 22. Annuities or similar instruments could give UAW retirees assurance of fixed, predictable payouts less dependent on stock market ups and downs, experts said. Recent changes in federal law have removed obstacles to including annuities as a feature of corporate 401(k) plans, said Olivia Mitchell, a professor at the University of Pennsylvania Wharton School and an expert on pensions and retirement. "Retirees want a way to be assured they won't run out of money," Mitchell said.

2023 Chrysler 300 gets one new option, otherwise unchanged

Chrysler dropped the goss on the 2023 Chrysler 300 sedan, a bit of whispering that took barely half a minute to read. There is one change coming to next year's 300: The entry-level Touring trim gains the option of the SafeyTec Plus Group. That bundle of features includes advanced brake assist, rain-sensing windshield wipers, LaneSense Lane Departure Warning with Lane Keep Assist, ParkSense front and rear park assist, auto high-beam headlamp control, Full-speed Forward Collision Warning with Active Braking, adaptive cruise control (ACC) with stop, an Alpine audio system with six speakers and a 276-watt amplifier, and an 80-amp alternator. The package costs $2,495 on the next model up, the Touring L, which is probably close to what Chrysler will charge on the Touring. The other new news is a special edition inbound for next year, but the automaker hasn't divulged anything about it. Mopar Insiders says Chrysler will hold a special event at the Detroit Auto Show next week, perhaps we'll find out more then. For a car old enough to have transported Walter P. Chrysler to work and gets effectively zero support in a dying segment, the 300 still looks and performs well and sells adequately. Whereas the Dodge Charger has averaged about 78,000 sales in each of the past two years in the U.S., the 300 had averaged about 17,000 sales in each of the past two years. We'd love to see Chrysler do something — anything — with it before the rumored electric successor arrives. The brand has a huge revamp in the works, though, so we'd also understand Chrysler leaving the old girl in a corner to do her best. Prices haven't been announced yet. We'd expect nominal increases over the current range, which starts at $35,140 for the entry-level rear-wheel-drive Touring and tops out at $46,945 for the 300S with the Hemi V8 before incentives. Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

Feds sue Fiat Chrysler, accuse it of cheating on diesel emissions

WASHINGTON - The US government has filed a civil lawsuit accusing Fiat Chrysler Automobiles NV of using software to bypass emission controls in diesel vehicles. The Justice Department suit, filed in US district court in Detroit, is a procedural step that may ramp up pressure on Fiat Chrysler. The suit could ultimately help lead to a settlement, as in an earlier probe of rival Volkswagen AG that will cost VW up to $25 billion, but which affected a much larger number of vehicles. VW admitted to intentionally cheating while Fiat Chrysler denies wrongdoing. It did not immediately comment on Tuesday. US-listed Fiat Chrysler shares were down 2.9 percent at $10.44. The suit also names Fiat Chrysler's unit V.M. Motori SpA, which designed the engine in question. Reuters reported last week the Justice Department and EPA have obtained internal emails and other documents written in Italian that look at engine development and emissions issues that raise significant questions. The investigation has scrutinized VM Motori. FCA acquired a 50 percent stake in VM Motori in 2010 and the remainder in October 2013. The lawsuit asserts the Italian-American automaker placed undeclared "defeat devices," or auxiliary emissions controls, in 2014-2016 Fiat Chrysler diesel vehicles that led to "much higher" than allowable levels of nitrogen oxide, or NOx pollution, which is linked to smog formation and respiratory problems. The suit seeks injunctive relief and unspecified civil penalties. EPA said in January the maximum fine is about $4.6 billion. In January, EPA and California accused Fiat Chrysler of illegally using undisclosed software to allow excess diesel emissions in 104,000 U.S. 2014-2016 Jeep Grand Cherokees and Dodge Ram 1500 trucks. Fiat Chrysler said on Friday it plans to update software that it expects will resolve the concerns of U.S. regulators about excess emissions in those vehicles. The January notice was the result of regulators' investigation of rival Volkswagen, which prompted the government to review emissions from all other passenger diesel vehicles. Volkswagen admitted in September 2015 to installing secret software allowing its cars to emit up to 40 times legal pollution levels. In total, VW has agreed to spend up to $25 billion in the United States to address claims from owners, environmental regulators, states and dealers and offered to buy back about 500,000 polluting US vehicles.