Are UAW Labor Deals Driving Up Car Prices? Find Out Now!
This video was first publish on Car Coach Youtube Chanel
If you are eyeing a new car for the holidays, you may be wondering just how much it will cost you. And if the United Auto Workers Union's new contracts will drive up those costs. Are UAW Labor Deals Driving Up Car Prices? The UAW secured significant pay races from that big 3 automakers. General Motors, Ford and Stellantis.
They'll increase wages by more than 30% over the span of the contracts. But experts say car buyers shouldn't expect to foot the bill. The bigger reason is labor makes up less than 10% of the total cost of the car. Lauren Fix also known as the Car Coach joins us to explain what car buyers can expect.
If if labor is such a small portion of the price of a vehicle, where does that big that people pay for come from? You maybe surprised.
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00:00 #uaw Labor Deals Driving Up #Car Prices?
00:32 Lauren Fix explains
02:41 Car Costs going up
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