GM

GM Sues Fiat Chrysler


General Motors is suing rival Fiat Chrysler, alleging that parent company FCA Group bribed UAW union officials for more favorable contracts. The racketeering suit alleges that former FCA chief Sergio Marchionne authorized the bribes, in violation of labor management laws and wire and mail fraud laws. GM recently had its own run-in with UAW, which saw the union shut down its production for almost six weeks. Washington Post
 
  • GM outsells Ford in trucks for the first time since 2015.Why is this a big truckin’deal? The large truck market generates most of the profits for automakers (just behind branded air fresheners… jk).
 
Chips down

Ford's output is likely to be down by a fifth this quarter, due to the global shortage of computer chips. GM has already announced a pause in production of its SUVs, and Volkswagen has also taken a hit, as have Toyota and Honda. Analysts say automakers are partly to blame here, having failed to order chips in time to capitalize on recovered demand. Wall Street Journal
 
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