Automaker Stellantis has decided to cancel its participation in CES 2024, the prominent tech trade show held annually in Las Vegas, due to the ongoing United Auto Workers (UAW) strike, now in its fifth week.
In an official statement, Stellantis outlined its rationale for the decision, emphasizing the need to safeguard business fundamentals amid the ongoing UAW negotiations. The cancellation of the CES 2024 display is part of a broader contingency plan implemented in response to the strike.
The sign is seen outside of the FCA US LLC Headquarters and Technology Center as it is changed to Stellantis on January 19, 2021 in Auburn Hills, Michigan. - Newly-created European carmaker Stellantis motored its way January 18, 2021 onto the Paris and Milan stock exchanges. Stellantis -- created by the merger of France's PSA and US-Italian rival Fiat Chrysler -- is the world's fourth-biggest automaker by volume.
Stellantis Cancels CES 2024
Stellantis said it is employing comprehensive countermeasures to mitigate financial repercussions and conserve capital. The company remains committed to showcasing its evolution into a mobility tech enterprise through alternative avenues.
The automaker reiterates its dedication to producing products, ensuring universal mobility, and striving for unparalleled value creation for all stakeholders, as outlined in the Dare Forward 2030 strategic plan.
"Stellantis remains committed to building products customers love, ensuring freedom of mobility for all, and becoming second to none in value creation for its employees and all other stakeholders as outlined in the Dare Forward 2030 strategic plan," the company said in the statement.
"As the costs of the ongoing UAW strikes against Stellantis continue to mount, the Company has decided to cancel its planned display and presentations at CES 2024, the world's largest technology show, scheduled for January 2024 in Las Vegas, Nevada," it added.
In related developments, SK On, Ford's joint venture partner, has unveiled plans to raise wages in its forthcoming electric vehicle (EV) battery facilities in Kentucky and Tennessee.
This move is aimed at addressing the concerns of striking autoworkers. The joint venture, BlueOval SK, offers elevated wages for maintenance technicians and associate maintenance technicians, with compensation ranging from $24 to $37.50 per hour, contingent on experience.
These positions are currently available at BlueOval SK's battery plants in Stanton, Tennessee, and Glendale, Kentucky. On the other hand, Ford has reported a significant surge in its third-quarter U.S. sales, boasting an eight percent upswing.
This positive performance is particularly notable in the truck segment, with robust sales for the top-selling F-150 pickup line. General Motors (GM) has also disclosed a substantial spike in its third-quarter US auto sales, indicating an impressive 21 percent surge in deliveries, totaling 674,336 vehicles.
This noteworthy achievement can be attributed to strong sales in models such as the Silverado pickup line and the GMC truck brand.
UAW Strike
Similar to its Detroit counterparts, Ford and Stellantis, GM is currently contending with a persistent labor strike initiated by the UAW. This strike has the potential to impact the company's operations and shed light on the complex dynamics within the automotive industry.
The UAW asserts that this approach is a response to the necessity of championing the working class against the influence of corporate interests. Ford, in turn, has focused on reaching an accord with the UAW, presenting four proposals since August 29.
Related Article: Union Autoworkers Launch Simultaneous Strikes Against Big 3 Automakers Ford, GM, and Stellantis
