/ Ford, General Motors, News / GM and Ford Workers in North America See Big Profit-Sharing Checks

GM and Ford Workers in North America See Big Profit-Sharing Checks

Linked In Share
GM and Ford Workers in North America See Big Profit-Sharing Checks

Ford and GM workers will receive big checks at the beginning of 2013, according to The Wall Street Journal.

The United Auto Workers has told its members that early next year, Ford workers can expect $8,000 each, while GM workers will get around $7,000 each. In 2011 Ford paid out $6,200, while GM awarded almost $7,000. For both automakers’ workers these profit-sharing checks would be 11% to 14% of the typical autoworker’s annual wage of about $58,500.

These checks are a clear sign that the auto industry in the US has managed to revive from the 2008-2009 financial crisis, when GM and Chrysler filed for bankruptcy and thousands of workers were laid off. Profit-sharing checks are based on how much operating profit Ford and GM have made in North America. During the first three quarters Ford’s North American unit made $6.47 billion and GM’s North American business reached $5.55 billion. Substantial profits are expected for the fourth quarter too.

Due to these substantial profits, almost 50,000 GM hourly employees will receive payments between $5,500 and $7,000 each, while Ford’s 44,000 workers will get more than $8,000 each. According to Edmunds.com predictions, automakers will share a 1.36 million annualized sales rate for this month, an increase of 9.6% compared with last year and 19.1% from November.

by Ana Cezara Savin (my Google+) - Thursday, December 27th, 2012 - filed under Ford, General Motors, News. Image credit: .
Linked In Share
Related Articles
Ford GM north america profit-sharing checks


Discuss: GM and Ford Workers in North America See Big Profit-Sharing Checks

Leave a Reply















Inautonews Facebook PageInautonews RSS FeedInautonews TwitterInautonews Youtube Channel

Sign up to receive our email newsletter on your email. It's safe. No spam!

Sutil says feet planted despite rumours
Sutil says feet planted despite rumoursJul.24 (GMM/Inautonews.com) Adrian Sutil on Thursday insisted he has no intention of losing his place in formula one. The ...
Mercedes-Benz AMG GT to be unveiled on September 9
Mercedes-Benz AMG GT to be unveiled on September 9The newest sports car produced by Mercedes-Benz will be officially unveiled on the 9th of September. Following several spy ...
[VIDEO] Mercedes-Benz S500 Plug-in Hybrid gets new promo
[VIDEO] Mercedes-Benz S500 Plug-in Hybrid gets new promoMercedes-Benz has released a new promotional video with the newly unveiled S500 Plug-in Hybrid. The German based automaker ...
2017 Seat Ibiza teased
2017 Seat Ibiza teasedThe Spanish based automaker Seat has released the first sketch with the new generation of the Ibiza which is said to go on sale ...
Volkswagen Golf GTD Variant spied
Volkswagen Golf GTD Variant spiedVolkswagen is currently testing out the wagon version of the Golf GTD as the model in question has been caught on camera by our ...
[Video] Mercedes simulator trains you to become the better driver
[Video] Mercedes simulator trains you to become the better driverWhile life-sized simulators are generally associated with the training of plane pilots, the machines have been successfully ...
2015 COTY candidates announced
2015 COTY candidates announcedThe first candidates of the 2015 Car of the Year award have been recently announced but the winner will be presented next year, ...
Honda’s Mobilio jumps from Indonesia to India
Honda’s Mobilio jumps from Indonesia to IndiaThe Japanese automaker aims to improve its market share in the huge India by porting a model that has become an outstanding ...
New British sports car teased – Ant-Kahn Evanta Barchetta
New British sports car teased – Ant-Kahn Evanta BarchettaA brand new British sports car is about to hit the market with its appealing looks under the Ant-Kahn Evanta Barchetta name. The ...
General Motors – 6 new recalls announced
General Motors – 6 new recalls announcedGeneral Motors is continuing to announce new recalls with six separate campaigns which are covering nearly three quarters of a ...
Chevrolet debuts its Manchester United sponsorship in the US
Chevrolet debuts its Manchester United sponsorship in the USGeneral Motors decided that a shirt sponsorship deal for the next seven years with England’s Manchester United is well worth ...
2014 Renault Megane introduced in Australia
2014 Renault Megane introduced in AustraliaRenault has recently announced the launch of the updated Megane across the Australian continent, where the cheapest version is ...
Recall roundup: Mercedes-Benz SLK and SL for Takata airbags
Recall roundup: Mercedes-Benz SLK and SL for Takata airbagsThe German based automaker Mercedes-Benz has recently issued a recall for the SLK and for the SL roadsters because of the Takata ...
Mercedes-Benz to further cut costs, even as profit beats estimates
Mercedes-Benz to further cut costs, even as profit beats estimatesDaimler AG announced a second-quarter profit that positively outpaced analyst forecasts, thanks to increased deliveries from the ...
[VIDEO] Hear the 2015 Ford Mustang EcoBoost
[VIDEO] Hear the 2015 Ford Mustang EcoBoostAnother video upload with the brand new 2015 Ford Mustang is partially revealing the sound of the EcoBoost four-cylinder ...
Read more automotive news


2013 Frankfurt Motor Show Live Images

Mercedes-Benz-AMG-GT-1
VW Golf GTD Variant 01
bmw m4 coupe tuning vorsteiner 1
2015 toyota yaris facelift united states 1
mercedes-benz a45 amg tuning vath 1
2015 porsche cayenne facelift 1
2015 hyundai tucson 2
Smart Brabus 01
Audi Q7 01
Mercedes ML Facelift 03
Jaguar XJ Facelift 01
Honda NSX 01

More automotive from inautonews
The newest sports car produced by Mercedes-Benz will be officially unveiled on the 9th of September. Following several spy photos and teaser images with it, the new Mercedes-Benz AMG GT is about to be officially unveiled. According to the German automotive media, the model in question will be ...
read more
Inautonews Editors Section
Review – German GP 2014
Review – German GP 2014Taking Rosberg’s easy win out of the picture, the German GP was truly spectacular, full of wheel-to-wheel racing, some of the overtakes backfiring ...
Britain and Germany go to war
Britain and Germany go to war1995, the German Grand Prix at the old Hockenheimring. Damon Hill leads at the end of lap one ahead of Schumacher but loses the car at the first ...
Racing tracks – sleeping pill or energy drink?
Racing tracks – sleeping pill or energy drink?The racing weekend took us across the whole world last weekend, with dull or spectacular racing being influenced not only by the quality of the ...

Editors Section
Inautonews Editors Section
2012 Safest Cars list 2011 Safest Cars [Video] 2011 IIHS Safest Cars [Video] 2011 EuroNCAP Safest Cars 2010 Safest Cars [Video]

Latest in Safety General Motors – 6 new recalls announcedGeneral Motors is continuing to announce new recalls with six separate campaigns which are covering ... Recall roundup: Mercedes-Benz SLK and SL for Takata airbagsThe German based automaker Mercedes-Benz has recently issued a recall for the SLK and for the SL ...
Safety Section