Profits per vehicle, per manufacturer:
GM: $2,800 per vehicle
Ford: $3,970 per vehicle
Stellantis: $8,365 per vehicle
Tesla: $7,165 per vehicle
Why is Stellantis so ahead of GM and Ford?
"That is in part due to Stellantis North America's focus on combustion pickup trucks and Jeep SUVs that command hefty profit margins."
GM and Ford do the same thing. What gives? Don't tell me it's due to Electric Vehicles - GM sold a total of 15,652 EVs in the second quarter of this year. Not great. How are these manufacturers selling $40-80,000 vehicles and making $2,800/$3,970 per vehicles? Labor costs???
"Tesla workers earn about $45 an hour in wages and benefits, analysts said. That compares with about $64 to $67 an hour at UAW-represented Detroit Three operations."
Take a wild guess which manufacturer the UAW will target. Stellantis can afford to give concessions to the UAW. How does GM fare when it only makes $2,800 per vehicle? I don't see this ending very well for GM.
Source:
Analysis: Elon Musk and Tesla loom over Detroit's auto labor talks
https://www.reuters.com/business/autos-transportation/elon-musk-tesla-loom-over-detroits-auto-labor-talks-2023-07-20/