Tentative Contract Agreement Reached Between UAW and Fiat's Chrysler Unit

The United Auto Workers (UAW) union has finally reached a tentative contract agreement with Fiat's Chrysler unit, following similar agreements with Ford and General Motors in recent weeks. This development comes as General Motors prepares to announce a new all-electric, battery-powered car intended for urban markets. Meanwhile, other major automakers, including Ford and Toyota, are also planning to launch electric and plug-in hybrid vehicles. Additionally, Honda has begun production of a 2012 Honda Civic powered by natural gas.

Key Takeaways:

• The UAW has reached a tentative contract agreement with Fiat's Chrysler unit, following agreements with Ford and General Motors.
• General Motors is expected to announce a new all-electric, battery-powered car, designed for urban markets, which will complement the extended range Chevrolet Volt.
• Ford is planning to launch an all-electric version of its Focus, while Toyota plans to deliver a plug-in Prius in the spring.
• Honda has begun production of a 2012 Honda Civic powered by natural gas.
• Other major automakers are shifting their focus to electric and hybrid vehicles, indicating a trend towards a more environmentally friendly industry.

Statistics:

• As of October 8, 2011, Ford's stock price was $13.83, and an automated pattern recognition system, Comtex SmarTrend, indicated a DOWNTREND on June 8, 2011 (Source: Comtex SmarTrend).
• As of October 8, 2011, General Motors' stock price was $29.14, and Comtex SmarTrend indicated a DOWNTREND on July 18, 2011 (Source: Comtex SmarTrend).
• As of October 8, 2011, Honda's stock price was $29.74, and Comtex SmarTrend indicated a DOWNTREND on September 9, 2011 (Source: Comtex SmarTrend).

Sources:

• MarketNewsVideo.com (via COMTEX) - no specific date mentioned
• Comtex SmarTrend Alert (Source: Comtex News Network, Inc., www.mysmartrend.com)
• Comtex SmarTrend (Source: Comtex News Network, Inc., www.mysmartrend.com)