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United Auto Workers Local 862 at Ford Motor’s (New York Stock Exchange:F) assembly plant in Louisville, Kentucky, revealed that 55% of production workers voted against ratifying the new labor contract, while 69% of skilled workers who voted They were in favor of the contract.
Vote tracking indicates that 70.7% of workers voted in favor of the agreement at all United Auto Workers plants that voted.
The rejection of the deal by Louisville production workers is seen as a sign that approval of the deal is not guaranteed. The union has not issued a statement on the new development.
Last week, President Joe Biden said he absolutely supports the United Auto Workers’ efforts to unionize other automakers like Tesla (TSLA), Toyota Motor (TM), and Honda Motor (HMC). The comment came just before a meeting between Biden and UAW President Shawn Fain to highlight tentative contract agreements between the union and Detroit automakers General Motors (GM), Ford Motor (F) and Stellantis ( STLA). It’s also in line with polls that consistently show that a higher percentage (65%-72%) of Americans support unions than five years ago.
Track Ford Motor (F) Stock 0.10% higher in pre-market trading at $9.87 vs. 52-week trading range of $9.63 to $15.42.
