by TonyLiberty
The Auto strike could send car prices soaring.
Anderson Economic Group estimates that a 10-day strike of the Big Three automakers would cause economic losses of $5.6 Billion.
The union is initially striking only three plants, one each for Ford, General Motors, and Chrysler parent Stellantis.
Manufacturing of motor vehicles and parts directly accounts for about 1.1 million jobs, about 1% of total U.S. employment.
If the strike expands to encompass all 150,000 union members, the disruptions will be more serious, with the economic damage dependent on how long the strike lasts.
If the strike persists, lean inventories in the automotive supply chain would mean fewer cars on dealer lots and generate upward pressure on prices.
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