/ 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!

2015 Brussels Motor Show – Dream Cars in more than 100 hi-res images
2015 Brussels Motor Show – Dream Cars in more than 100 hi-res imagesThis year, during the 2015 Brussels Motor Show those who are visiting the motor show will have the possibility to check hall nr ...
Hamilton signs with music PR agency
Hamilton signs with music PR agencyJan.24 (GMM/Inautonews.com) World champion Lewis Hamilton has replaced one entertainment-based management agency with another, ...
Streiff apologises to Todt for Bianchi comments
Streiff apologises to Todt for Bianchi commentsJan.24 (GMM/Inautonews.com) Philippe Streiff has apologised to FIA president Jean Todt. Todt, and the governing body's medical ...
Arrivabene backs Lauda for F1 ‘revolution’
Arrivabene backs Lauda for F1 ‘revolution’Jan.24 (GMM/Inautonews.com) Ferrari has called for a rules "revolution" for formula one in 2017. Upset with the mild tone of ...
Is the auto industry ready for the aluminum revolution?
Is the auto industry ready for the aluminum revolution?While the fact that a vehicle can have aluminum body has come to widespread attention ever since Ford announced that its ...
Volvo’s executive reshuffle should be just the tip of its US revival
Volvo’s executive reshuffle should be just the tip of its US revivalSweden’s Volvo Cars has enjoyed a new lease of life since it was acquired back in 2010 by China’s Geely Holding Group, with ...
GM sees profitability in Europe even if economy fails to revive
GM sees profitability in Europe even if economy fails to reviveIn Europe General Motors  will become again profitable even if the economy in the old content fails to revive as forecast, ...
BMW adds all-wheel-drive to its M models
BMW adds all-wheel-drive to its M modelsBMW will be adding all-wheel-drive to some of its high-performance M models in competition with its German two rivals, Audi and ...
US: Used car prices lower due to increase in new car sales
US: Used car prices lower due to increase in new car salesThe increased new cars sales have recently created a decline in the used cars prices. In 2013 sales of new cars went up 5.9% to ...
U.S. – Land Rover Discovery Sport configurator introduced
U.S. – Land Rover Discovery Sport configurator introducedThe online configurator of the recently unveiled Land Rover Discovery Sport has been introduced by the company recently in the ...
Next-gen Buick LaCrosse spied
Next-gen Buick LaCrosse spiedA new generation of the Buick LaCrosse is believed to be in development as a test mule with it has been apparently caught on ...
Hyundai’s biggest dividend so far is met with concern
Hyundai’s biggest dividend so far is met with concernHyundai Motor CO announced its biggest yet dividend to calm down shareholders who were disturbed by the $10 billion property ...
Jaguar Land Rover adds Bike Sense to its cars
Jaguar Land Rover adds Bike Sense to its carsIn the U.K, nearly 19,000 cyclists are annually involved in car accidents. And it’s a fact that bicycle deaths have been on the ...
Hyundai ix20 facelift spied
Hyundai ix20 facelift spiedOur spy photographers have managed to capture the facelifted version of the Hyundai ix20 on camera while it was being tested ...
US: States make investments to win automotive jobs
US: States make investments to win automotive jobsThe state of Georgia reportedly came up with an investment package of $23 million, meaning nearly $25,000 for each of the 900 ...
Read more automotive news


2013 Frankfurt Motor Show Live Images

2015 Brussels Motor Show Dream Cars 96
Spy-Photo
02-Bike-Sense-cyclist-in-window
Spy-Photo
mercedes amg gt roadster 1
Sebastian Mackensen new MINI Boss
ford mondeo shooting brake 1
2016 honda civic type r spied 1
red volcano mclaren p1 mso 1
black ferrari f40 auction barrett jackson 2015 1
porsche 918 spyder martini black 1
Chevrolet Silverado Midnight Edition 1

More automotive from inautonews
This year, during the 2015 Brussels Motor Show those who are visiting the motor show will have the possibility to check hall nr 11 to admire more than 50 ultra-luxury and sports cars. Besides the “usual” supercars like the Porsche 918, Nissan GT-R Nismo, Mercedes S63 AMG Coupe or luxury ...
read more
Inautonews Editors Section
Is the auto industry ready for the aluminum revolution?
Is the auto industry ready for the aluminum revolution?While the fact that a vehicle can have aluminum body has come to widespread attention ever since Ford announced that its best-selling F-150 truck has ...
NAIAS 2015: the best and worst
NAIAS 2015: the best and worstThe 2015 North American International Auto Show is the perfect sign that USA’s auto industry has recovered fully from the brink of collapse that ...
Cutting-edge technology we could see in vehicles by 2020
Cutting-edge technology we could see in vehicles by 2020While the month of January is not even over yet, the world of automotive industry has already presented itself with two weeks of awe and wonder for ...

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 Euro NCAP: New Skoda Fabia, best in classThe new generation of the Skoda Fabia has been named the safest car in its segment by Euro NCAP, ... Recall roundup: Toyota Prius V for airbag problemsToyota has recently issued a recall for several Prius V models because of a possible problem with ...
Safety Section