Top Minority Purchased Vehicles, Ford Reaches its Limit, Increase In Tenn. Battery Plant Wages

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We are still in Miami for a few more moments as NAMAD wrapped up yesterday evening. We are carrying the energy from the event right into Friday as we recap the DVL awards and check in on what is up in Ford’s world.

Show Notes with links:

• "We have reached our limit," Kumar Galhotra, president of Ford Blue said to reporters on Thursday. He continued, "We've actually stretched ourselves to get to this point. … We're open to moving some money around within the deal that might fit the union's needs better. But broadly speaking, from an overall cost of the deal perspective, yes, we're there."
  • Despite raises of 23% for hourly workers and a $21 starting wage for temps, the UAW expanded its strike, targeting Ford's Kentucky Truck Plant late Wednesday
  • The ongoing strike could impact Ford's $25 billion annual revenue from the plant and affect over 100,000 workers. Negotiations continue, with UAW President Shawn Fain set to provide an update on Friday.

• BlueOval SK, a collaboration between Ford and SK On, has announced wage increases at their upcoming Tennessee and Kentucky battery plants, with potential earnings reaching up to $37.50 an hour
  • This wage revision aims to be more competitive with the current market, as stated by BlueOval SK's human resources director Neva McGruder Burke.
  • The wage range for their plants in Stanton, Tenn., and Glendale, Ky., has increased from $21-$29 to $21-$37.50.
  • Hourly workers are eligible for pay increases every six months until they reach top wages.
  • Additional benefits for hourly workers include up to 5% annual bonuses, affordable medical premiums, 401(k) matches, vehicle discounts, and vision/dental insurance.
    
    
    
• The 2023 Diversity Volume Leadership Awards celebrated the manufacturers being attentive to minority vehicle buyers and outshining rivals.
  • Marc Bland and Damon Lester founded the DVLs a decade ago to emphasize the importance of diverse consumers in the auto industry.
  • The awards theme, "The Future Majority," reflects the U.S. Census prediction of minorities becoming the majority by 2045.
  • 22 brands were honored this year across all vehicle segments, chosen based on US Census and S&P Global Mobility data, showcasing the significance of diversity in the automotive sector.
  • The winner of the most coveted award of the evening, The Top Overall Future Majority Vehicle, went to the Toyota RAV4 (racking up Toyota’s total to 6 awards from the event).
  • The new BEV segment this year was the Chevrolet Bolt

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