I mean, I don’t want to rain on anyone’s tantrum parade or anything (I’m not really that kinda gal at heart – I only play one here at HotAir.).

But the United Auto Workers union has been on an ever-expanding strike against the Detroit 3 (GM, Ford and Stellantis) for going on four weeks now, and there’s no settlement in sight.

The United Auto Workers president on Friday is expected to say whether the union will expand its strike against Detroit’s three carmakers, as the work stoppage enters its fourth week.

Union negotiators continued parallel talks this week with General Motors, Ford Motor and Chrysler-parent Stellantis on new four-year contracts. The sides have exchanged proposals in recent days, with some signs of progress, but it was unclear whether any of the companies were near a deal.

Still, negotiators are working around the clock, with some even sleeping at company headquarters.

UAW President Shawn Fain is scheduled to update the union’s 146,000 auto-factory members on the status of the talks during a livestream at 2 p.m. Eastern time. He has used that address on the past two Fridays to give instructions for fresh walkouts.

About 25,000 workers are on strike across five assembly plants and dozens of parts-distribution centers, spanning GM, Ford and Stellantis. Fain has previously said the union will conduct more walkouts on companies that haven’t moved far enough at the bargaining table.

Rather than caving to the union as it turns the labor screws a little tighter each Friday, the D-3 are waging their own sort of strike-busting warfare. While diplomatically sending “good faith” new offers to the negotiating table, they are laying off workers at plants associated with job actions, calling in non-union salaried employees to fill in, and speaking out against the union tactics.

…The automakers have called for salaried workers to help out at some striking parts-distribution centers, the Journal has reported. At least 7,000 workers at the auto companies and their suppliers have been laid off as a result of the strike.

Executives at GM and Ford last week issued strong statements against the union’s strategy and its strike escalation.

GM Chief Executive Mary Barra said she doesn’t believe the union is trying to reach an agreement. Jim Farley, Ford’s chief executive, said the union was holding agreements hostage over discussions of battery plants that aren’t yet built.

They’re also sending not-so-subtle shots across the union bow in regards to projects which might only be in the early process or stages of development but had the potential for plenty of UAW jobs. Take, for example, what Ford recently did with a MI battery plant.

…In spite of what passes for warm fuzzies in union contract negotiations, Ford upped the ante this morning. In a surprise move, the corporation announced it was “temporarily” halting construction on the new bazillion dollar EV battery plant it’s building in Michigan with – SURPRISE! – a Chinese company (background on that huge controversy here).

Naturally, UAW head Shawn Fain cried “FOUL” but all’s fair in love and labor war. Especially when the geriatric dementia patient who cos-plays President of the United States totters into the conflict on your side. That makes for a bit of a stacked deck.

The fact that for the 1st time in US history, a sitting president is on a picket line supporting an active strike is a testament to both the popularity of UAW's work stoppage & the growing power of the labor movement in shifting the national dialogue to supporting workers' rights https://t.co/XyWlmzcfJt

— Miles Kampf-Lassin (@MilesKLassin) September 26, 2023

The D-3 – and by extension, the UAW – is facing some cold, hard realities that underpin this entire farcical drama, and the policies of the pudding brained old man the UAW celebrated are at the very heart of what will make them obsolete.

Joe Biden’s EV diktats are what is going to kill the UAW and, quite possibly, the American auto business. Vehicles are hugely unaffordable at this moment, and that was before interest rates started climbing. Automakers have months of EV inventory backlog sitting on lots they can’t unload, every one of which they lost tens of thousands of dollars manufacturing to begin with.

At a hearing today I exposed President Biden's @UAW insanity: "How are you going to get higher wages if you have Joe Biden pressuring companies to sell vehicles where they're losing billions of dollars? Companies don't give higher wages when they're losing billions." pic.twitter.com/QPf2Kqr2mv

— Alex Epstein (@AlexEpstein) September 28, 2023

The vehicles that DO pay the bills for the D-3 – the big trucks and SUVs – are shortly going to become prohibitively expensive, between whatever settlement is reached (if one is), interest rates north of 7% and climbing, and Biden’s war on ICE vehicles.

Why borrowing costs for nearly everything are surging, and what it means for you

Violent moves in the bond market this week have hammered investors and renewed fears of a recession, as well as concerns about housing, banks and even the fiscal sustainability of the U.S. government.

At the center of the storm is the 10-year Treasury yield, one of the most influential numbers in finance. The yield, which represents borrowing costs for issuers of bonds, has climbed steadily in recent weeks and reached 4.88% on Tuesday, a level last seen just before the 2008 financial crisis.

The relentless rise in borrowing costs has blown past forecasters’ predictions and has Wall Street casting about for explanations. While the Federal Reserve has been raising its benchmark rate for 18 months, that hasn’t impacted longer-dated Treasurys like the 10-year until recently as investors believed rate cuts were likely coming in the near term.

…“People have to borrow at a much higher rate than they would have a month ago, two months ago, six months ago,” said Lindsay Rosner, head of multi sector investing at Goldman Sachsasset and wealth management.

“Unfortunately, I do think there has to be some pain for the average American now,” she said.

One would hope someone in the UAW hierarchy is keeping an eye on the economic realities, because in chaos, there is profit. And with the American auto makers in chaos at the moment thanks to labor issues and unsustainable EV mandates requiring they manufacture a product they lose their shirt on, which no one wants to buy?

The king of the EV hill has noticed.

I guess he decided there’s no time like the present to draw some more blood.

“Midnight Massacre”: Tesla Slashes Model 3, Model Y Prices Yet Again

If ever there was a shred of doubt about Elon Musk’s intentions to move more volume at lower prices for Tesla this year, those thoughts should officially be put to bed.

Tesla shares are dipping slightly lower on Friday morning after it was reported late Thursday night that Tesla would be making even more price cuts to its Model 3 and Model Y vehicles.

The new cuts to model prices are as follows:

• Model 3 Now $38,990 From $40,240

• Model 3 Performance Now $50,990 From $53,240

• Model 3 Long Range Price Cut To $45,990 From $47,240

• Model Y Long Range Now $48,490 From $50,490

• Model Y Performance Now $52,490 From $54,490

So far, the price cuts have been a winning formula for Tesla, allowing the automaker to remain at the tip of the demand spear in a global EV race that is now beyond super-saturated with competition.

The other couple of real problems Detroit and the UAW have with Tesla is:

1) Elon’s outfit does it all with a non-union shop, so he can be nimble adapting to the market

2) People see Tesla as a VALUE product

…”Some companies cut prices, but most keep prices flat or increase them,” he added. “Some companies improve products quickly. But no one has actually given you more for less on such a big ticket purchase so frequently.”

Yeah.

VALUE FOR YOUR MONEY

There’s a concept. The UAW feels they are the value. They are up against a BUSINESSman whose model IS valued.

BUT WAIT! THERE’S MORE!

Tesla lowered prices at the very same moment the government EXPANDED the EV tax credit. You don’t have to wait for a check in the mail anymore.

Buying an EV? you won’t have to wait for your tax credit anymore in 2024

The U.S. Government expanded the electric vehicle tax credit program and access to those credits to help dealers expand their businesses and consumers take advantage of cost savings for buying an EV.

On Friday, the U.S. Department of the Treasury and the IRS announced new guidance that would lower costs for consumers and help dealerships benefit from the Inflation Reduction Act by providing EV credits at the point of sale for both new and used EVs. It comes in response to studies that showed consumers would rather have an immediate rebate when they are buying a car, as opposed to waiting for a credit that can be applied to taxes the following year.

The new IRA guidance, which was announced this morning, allows consumers to transfer their new clean vehicle credit of up to $7,500 and/or their $4,000 credit for a used EV to a car dealer, effective January 1, 2024. The price of the vehicle will automatically be lowered by $7,500 if new and $4,000 if used at the point of sale, rather than having the consumer wait until the following year to claim their credit.

That Elon is crazy like a fox.

Hmmm. $7500 off the new, lower price sticker at the Tesla dealership, or some crappy D-3 EV that’s been sitting in a lot for 4 months?

CHOICES, CHOICES

If I ran the zoo at the UAW, I’d be very nervous.