Used car retailers gain as UAW strike looms

Lithia Motors

14/09/2023 20:50

** Shares of used car dealers Carmax  KMX.N , Autonation
 AN.N , Carvana  CVNA.N  and Lithia Motors  LAD.N  rise between
3.3% and 12.9%
    ** UAW's strike is set to begin against the Detroit Three
automakers at 11:59 p.m., if no deal is reached
    ** General Motors says it upped its contract offer to a 20%
wage hike for U.S. autoworkers, including 10% in the first year
    ** Ford says odds are very high for a targeted strike by
UAW, adds that its last offer was "very good" and has not heard
a counteroffer from UAW
    ** General Motors  GM.N , Ford Motor  F.N  and U.S.-listed
shares of Stellantis  STLA.N  fell between 0.1% and 0.8% 

 (Reporting by Akash Sriram in Bengaluru)
 ((Akash.Sriram@thomsonreuters.com; https://twitter.com/hoodieonveshti;))