According to U.S. automaking giant General Motors, the company’s new labor deal with the United Auto Workers and Canada’s Unifor is set to increase its costs by $9.3 billion.
The company also stated that the cost of its vehicle production is slated to increase by about $575 per car.
GM previously indicated that the UAW’s labor strike cost the company approximately $1.1 billion in losses during 2023.
The company went on to say that it would rework its annual budget for 2024 to “fully offset the incremental costs of our new labor agreements.”
