Pandemic No Longer Affecting the Big Three Automakers
When the shutdown first took place, it was dire in the state of Michigan for workers and the big three automakers but this is behind all of us now.
Michigan is the host of for the headquarters of General Motors, Ford and Fiat Chrysler. Michigan is also hosts to a variety of assembly and manufacturing plants all across the state.
According to WOOD, the big three are doing well with General Motors alone with a massive third quarter profit of $4 billion in just three months. Ford also seeing a profit of $2.9 billion and Fiat Chrysler pulling in $1.4 billion in profits.
What started off as a tough year in 2020 for automakers then in March with a shutdown that had workers and management down not just in Michigan but all across the United States. The pandemic was unknown territory for all of us and it took a while for science to design methods for folks to get back to work and plants to reopen.
All three automakers have surpassed all Wall Street predictions by three times and that is huge with the loss that was taken at the beginning of the shutdown. Stocks for all three automakers have seen increases...during a pandemic...that is pretty solid.
GM has been seeing the biggest increases in sales with their pickup truck division, large SUVs, the Chevy Blazer and sale of the Cadillac XT6. Heck GM has even had an increase in China from their Buick and Cadillac divisions.
GM has also been using time during the pandemic to beef up their production of electric vehicles that are being built in Spring Hill, Tenn.
Let's just hope this type of success for the big three automakers continue and keeps workers on the job in Michigan and well as across the United States.