Ford and Stellantis Workers Ratify New UAW Contracts

By
Naomi Buchanan
Naomi Buchanan
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Naomi Buchanan is a reporter at Investopedia breaking down news stories that impact investors.
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Published November 17, 2023
United Auto Workers strike

Bloomberg / Contributor / Getty Images

Key Takeaways

  • United Auto Workers (UAW) union members voted to ratify new contracts with Ford and Stellantis.
  • Nearly 70% of UAW members at Stellantis and over 68% of Ford workers voted in favor of the new contracts, according to the union's vote counters.
  • General Motors union workers voted to ratify their contract on Thursday.

United Auto Workers (UAW) union members voted Friday to ratify the new contracts reached with Stellantis (STLA) and Ford (F) during the union's historic strike against the Big Three automakers.

Nearly 70% of the 27,810 UAW members at Stellantis voted in favor of the new contract, which the union reported was valued at 103% more than the Chrysler parent company's initial offer prior to the strike.

The new Stellantis contract includes a 25% increase in wages, compared to a 23% increase from 2001 to 2022, the UAW said.

At Ford, over 68% of 34,657 UAW members voted to ratify the new contract, worth more than 50% of Ford's initial offer and providing a 25% wage increase.

General Motors (GM) workers voted and approved their new contract on Thursday.

Stellantis shares were up 1% in intraday trading Friday following the news, while Ford shares rose 0.8% and GM shares climbed 1.3%.

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Article Sources
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  1. United Auto Workers. "2023 Stellantis Ratification Vote Tracker."

  2. United Auto Workers. "Bargaining 2023 UAW-Stellantis."

  3. United Auto Workers. "Bargaining 2023 UAW-Ford."

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