Posted July 31, 2010 at 3:00 pm, in From AFL-CIO
By Tula Connell
AFL-CIO Managing Editor
Higher profits and new fuel-efficient models have put American-made cars back on the road again—with the help of taxpayers and the workers who have worked closely with the Big Three automakers to ensure their success.
In July, Ford posted a stronger-than-expected quarterly profit of $2.6 billion—some $1 billion more than analysts predicted—with promises of more earnings in 2011. Chrysler, which cut its net loss to $197 million from January through March, expects to announce its second-quarter earnings in mid-August. General Motor’s (GM’s) U.S. sales for June rose 11 percent from the year-ago period and the company is again building popular cars.
Says UAW President Bob King:
The commitment, sacrifices and hard work of the men and women at UAW-represented companies is an enormous part of the positive news coming from Ford, GM and Chrysler, where UAW members are producing best-in-class quality results and building vehicles that hands-down beat global competition. (more…)