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Farley reacts as UAW expands strike against Ford, GM

Members of the United Auto Worker union walk out of the Chicago Ford Assembly Plant as Lance Williams from Lansing, Ill., waves the UAW flag Friday. (AP)   As the United Auto Workers walk off the job at an additional Ford and General Motors plant, Ford CEO Jim Farley addressed investors and members of the media Friday, pleading the case for the company's latest overture to the union and addressing both public and investor concerns regarding the core issues facing American manufacturing.  Farley made a public case for Ford's efforts to resolve the dispute, expressing frustration with the ongoing stalemate and noting both the concessions Ford offered before the strike began and the signing of a contract with Canada's Unifor. Farley also acknowledged UAW President Shawn Fain's success in getting the union's message out, quipping: "Shawn has been on TV more than Jake from State Farm at this point." The first-ever simultaneous strike against the Detroit Three automakers enters its third week with threats of continued expansion, but little in the way of obvious concrete progress.  "If the UAW’s goal is a record contract, they have already achieved this," Farley said. "It is grossly irresponsible to escalate these strikes and hurt thousands of families." Farley also lamented the fact that EVs have become the subject of partisan conflict, with the company's recently announced battery production facilities taking heat from both pundits and investors as Ford was forced to press pause on the venture while negotiations continue. Former President Donald Trump dropped in to Michigan this week to declare EVs the enemy of blue-collar jobs. "They've become a political football, and that's a shame," he said. Friday saw an expansion of the UAW strike to Ford's Chicago assembly plant and GM's Lansing, Delta Township, Michigan, assembly plant, covering about 7,000 workers, Fain said in an announcement, bringing the total number of workers on the picket lines to 25,000. The strike will not include any additional members at Stellantis, where talks have reportedly been more productive. The Ford and GM plants went on strike at noon Eastern today (Friday). Ford builds the Explorer and Lincoln Aviator in Chicago. GM's Delta Township plant builds Chevy Traverse and Buick Enclave. "Despite our willingness to bargain, Ford and GM have refused to make meaningful progress," Fain said in a video address Friday morning.

Automakers tussle over owners of 'orphan' makes

When General Motors put down several of its brands in recent years, it also let loose thousands of brand-loyal customers who will eventually need another car.
R.L. Polk Associates estimates there are more than 18 million cars from 16 discontinued makes on the road today. Those "orphan owners" have sales-hungry competitors seeing dollar signs. GM is offering Saturn owners $1,000 cash toward a Chevy Cruze, Cadillac CTS or a GMC Acadia. Ford is giving its Mercury lease customers a chance to get out of their contracts with no early-termination penalty and offering to waive six remaining payments if they drive off in a Ford or Lincoln.
Edmunds.com research shows the efforts are paying off somewhat for GM, with 39 percent of Pontiac owners, 37 percent of Hummer owners and 31 percent of Saturn owners taking delivery of another GM-branded vehicle. But that leaves as much as 69 percent of owners going elsewhere. Ford, Honda and Toyota seem to be attracting many former GM owners.

1994 McLaren F1 LM-Specification fetches $19.8M at Monterey

The botched sale of that World War II-era 1939 Porsche Type 64 may have somewhat overshadowed the RM Sotheby’s auction last weekend at Monterey, but the event wasnÂ’t without its highlights. Exhibit A: The one-of-two 1994 McLaren F1 LM-Specification supercar that we told you about a month ago netted a whopping $19.8 million at the RM SothebyÂ’s auction last weekend in Monterey, and an almost equally rare 1965 Ford GT40 Roadster Prototype also netted seven figures.  The F1 is one of 106 examples ever built and one of just two in LM-Specification (the LM stands for “Le Mans”). McLaren upgraded the standard F1 at the factory post-production, adding a 680-horsepower GTR engine, an extra-high downforce coachwork kit highlighted by the massive rear wing, race-spec dampers, two more radiators and so forth. It also gained a more comfortable interior and creature comforts, with an upgraded air conditioning, radio, new headlights and a different steering wheel. Finally, the exterior was given a coat of silver paint, replacing the factory blue. Four bidders spent four-and-a-half minutes trying to outbid one another for the car, which eventually went to an unidentified American private collector. Also successfully auctioned on Friday: the 1965 Ford GT40 Roadster Prototype for $7.65 million, which fell right in line with expectations of between $7 million and $9 million. It helped pave the way for the Mark IV race cars that won the 24 Hours of Le Mans. As a reminder, it was the first of five GT40 Roadster Prototypes ever built, with seven hardtop versions also built, and it underwent a full restoration in 1983 and a mechanical overhaul in 2003. And it sure is pretty to look at.