Tesla, foreign automakers ‘the true winners’ in UAW strike debacle, says Wedbush

Wedbush believes “the clear winner in this heavyweight boxing match” between the UAW and General Motors (GM)/Ford (F) is Tesla, “with champagne now on ice which sits in a non-union position and its biggest potential EV 313 competitors now face mounting costs/complexities in the years ahead depending on how this ultimately plays out.” Foreign OEMs from Toyota (TM) to VW (VWAGY) and many others are clear benefits that could gain market share over the coming months/years in the U.S., with a new pricing structure from GM/Ford/Stellantis (STLA) likely now on deck given rising UAW cost intakes, Wedbush adds. The firm points out that the big issue for GM and Ford as well as investors is around if anywhere near a 40% wage increase gets approved/agreed, this will be a major headwind on the cost front and ultimately in some way be passed down to the consumer and through EV prices.