Ford Motor Company (NYSE: F) President and CEO Jim Farley said this morning, “We are pleased the agreement has been ratified and we are very happy for our more than 57,000 UAW-represented employees and their families.” (AutoInformed: Bill Ford Asks UAW to Choose His View of the Right Path; Ford Reaches UAW Contract Agreement If Members Vote Yes) UAW members are also on the verge of ratifying the new contract at Stellantis where voting is running 70% in favor as of this morning. (UAW has Tentative Agreement With Stellantis)
Ford Motor is refreshing or introducing new versions of about half its US sales volume in 2024. Critical launches include a new Ranger and Ranger Raptor; the new F-150 and F-150 Raptor; a new Expedition and Explorer, as well as a Lincoln Navigator and new Lincoln Aviator.
“Thankfully, we are on track to reach full production schedules in the coming days at our assembly plants in Michigan, Kentucky and Illinois that were affected during the strike. I’m excited to personally get out to as many of our plants and operations as possible in the coming weeks and months to spend time with our teams who build our vehicles,” Farley said.
“It’s also imperative that we continue to attack cost and waste throughout our operations. The reality is that this labor agreement added significant cost, and we are going to have to work very hard on productivity and efficiency to become more competitive,” said Farley.
UAW Local 862 Reaches Tentative Local Agreement at Ford Kentucky Truck Plant
21 February 2024 – After months of negotiations over local issues, UAW Local 862 has reached a tentative local agreement with Ford Motor Co. (NYSE: F), averting a potential strike this week.
Workers at Ford’s most profitable plant were set to walk off the job over local issues related to skilled trades, health & safety, and ergonomics. The tentative deal addresses these and other core issues of concern to KTP autoworkers.
There are dozens of remaining open local agreements across the Big Three automakers, while the national contracts were ratified this fall after the union’s Stand Up Strike secured record contracts.