General Motors became the last of the three large U.S. automakers to reach a tentative agreement on a new contract with the United Automobile Workers union.
Stellantis, the parent of Chrysler, Jeep and Ram, and the United Automobile Workers union said they had reached a deal on a new contract similar to the one that the union reached with Ford.
The company said it was recalling the vehicles in North America because of concerns that bumper cover parts could fall off and create hazards on the road.
Car manufacturers must now raise labor costs as they confront slower-than-expected demand for electric vehicles.
A tentative agreement gives the United Automobile Workers union members at the carmaker their best terms in decades. But the cost to Ford will be manageable, industry experts said.
Exxon Mobil and Chevron are spending tens of billions of dollars buying oil and gas assets, betting that the International Energy Agency’s predictions of declining oil demand are wrong.
The carmaker reported $3.1 billion in profit from July through September, which included two weeks of walkouts by the United Automobile Workers.
The Department of Justice has sought documents related to vehicle range and “personal benefits,” Tesla said.
The three U.S. automakers say they are already at a disadvantage to nonunion rivals while labor leaders hope that big gains in negotiations will inspire workers in Southern states to unionize.
The carmaker made less money in the third quarter as it cut car prices to attract buyers amid stronger competition.