The current UAW strike may seem like a nightmare for automakers and auto workers, but for current shoppers it can raise your bottom line.
As an owner of a vehicle or someone shopping for a new one, the strike can benefit you in many ways.
Looking over headlines today would lead you to believe the current UAW strike holds nothing but negative consequences for the automotive industry and today’s shopper within the new and used car market. Although inconvenient for all involved, the strike will likely lead to better quality vehicles. With auto workers fighting for better working conditions and better wages, the auto industry will have to prioritize investing in high-quality parts and skilled labor. Although this is something Ford is familiar with, this will eventually lead to vehicles with much better durability, higher safety standards, and longer lifespan across the board.
Secondly, the strike can lead to better pricing for vehicles. When auto manufacturers experience a halt in production, it causes a ripple effect that could result in fewer new vehicles on dealership lots, making the demand for them higher. This leads to auto manufacturers incentivizing customers with deals and discounts on pre-owned vehicles especially to entice customers to buy them instead. It also raises trade values on late-model vehicles as dealers need more on their lot. It’s a simple economic principle- supply and demand.
In conclusion, while the current UAW strike may cause temporary setbacks for auto manufacturers, it could benefit buyers and the automotive market itself in many ways. Higher quality vehicles, better pricing, and a more conscientious approach to job security and employee benefits are all outcomes that could arise from the strike. As UAW leaders and the Big Three automakers resume contract negotiations today, we can hope that an agreement that benefits all parties will be reached, ultimately leading to a better auto industry for everyone.
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