French car parts maker Forvia (FRVIA.PA) on Friday posted solid organic sales growth for the third quarter, but warned that the spreading United Auto Workers strike will take a bigger bite out of revenue in October and could lead to layoffs.
Striking United Auto Workers members from the General Motors Lansing Delta Plant picket in Delta Township, Michigan U.S. September 29, 2023. REUTERS/Rebecca Cook/File PhotoThe world's seventh largest automotive supplier said the impact of the UAW strikes on its U.S. sales was about 6 million euros in the past quarter, but that should rise to around 55 million euros in the month of October.
The UAW strike has hit the one-month mark, with more than 34,000 union members working at Ford, General Motors and Chrysler parent Stellantis out on strike, including those who went out on strike at Ford's cash-cow Kentucky pickup truck plant last week. The supplier is considering temporary layoffs and other ways to cut spending to counter the impact of UAW strikes, Durand told reporters.
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