The United Auto Workers (UAW) union reached a tentative agreement with the last of the Detroit Three automakers—General Motors (GM)—on Monday, ending the six-week-long strike that saw 45,000 workers walk out.
“We wholeheartedly believe that our strike squeezed every last dime out of GM,” said UAW president Shawn Fain.
According to GM, each week of the strike was costing it $200 million.
Richest contracts
The tentative deals secured with Ford, Stellantis and GM would be the richest contracts since at least the 1960s. It offers a 25% general wage increase over four-and-a-half years, cost of living adjustments, and the right to strike plant closures.
The tentative deals now need to be ratified by union members.
Cars may get a little expensive
Ford executives said the new contracts would add $850 to $900 per vehicle in additional costs.