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Auto makers face price hikes layoffs amid weak sales
Ford estimates price rises of 3 to 6 percent per car this fall as Iacocca warns the cost pressures may push up to 150 to 300 dollars per vehicle. GM ends SUB benefits for 55,000 laid off workers, cutting typical weekly pay from 176 dollars including 92 from SUB. Industrywide layoffs total 179,000 of 712,000 hourly autoworkers, with plant closings and summer furloughs planned.
MENTIONED IN THIS ARTICLE
Detroit
Ford
General Motors
Lee Iacocca
Iacocca
Henry Ford II
Chrysler
U.S
American Motors
Flint
Don Ellis
United Auto Workers
Flint-area
Michigan
SUB
UAW
AMC