“The bill I’m about to sign ends a difficult rail dispute and helps our nation avoid what, without a doubt, would have been an economic catastrophe at a very bad time in the calendar,” President Biden said this morning during a signing ceremony of H.J.Res.100, which averts a nationwide railroad strike. “We ensured workers are going to get a historic 24% wage increase over the next five years, improved working conditions, and peace of mind around their healthcare,” Biden said.
“Let me begin by thanking my team here. They did one heck of a job in averting what could have been a real disaster and – and ended up with a good product. But we still have more work to do, in my view, in terms of ultimately getting paid sick leave not just for rail workers but for every worker in America. That is a goal I had in the beginning, and I’m coming back at it,” Biden said. Continue reading
November US Light Vehicle Sales Up. Uncertainty Remains
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US Light Vehicle sales totaled 1.11 million units in November, according to data and analysis just released by LMC Automotive*, a year-over-year gain of 10.5%, not adjusting for the number of selling days.
General Motors led the market, with a 17.6% share, 2.4 pp ahead of Toyota Group. Stellantis saw the largest YoY decline of the major automakers, down by 13.2% YoY. Honda Group continued to struggle with a -6.1% YoY drop.
The YoY comparison needs nuanced interpretation because it was boosted by the fact that sales were extremely weak a year earlier in the midst of the chip shortage. In addition, November 2022 had one extra selling day compared to November 2021. Volumes were down by 6.9% when compared with November 2020. Continue reading →