There is hope that the six-week-long strike will come to an end! Ford Motor Company is reportedly close to reaching an agreement with the union, which may result in an actual salary increase of 30%.

The massive strike that has swept through the US automotive industry may finally be coming to an end, as a major automaker is close to reaching an agreement with the labor union to end the six-week-long strike.

According to sources familiar with the matter, Ford Motor Company and the United Auto Workers (UAW), the largest labor union in the US automotive industry, are nearing a new temporary labor agreement after intense negotiations that lasted through Tuesday night and into Wednesday. While the two sides have come closer to reaching a consensus on key issues in recent weeks, the situation remains uncertain, and the negotiations could still reach an impasse.

Insiders say that it may take several days for UAW leaders to review the details of the temporary labor contract before it is made public. It is still unclear how quickly Ford workers will be able to return to work once the labor agreement is reached.

Another media outlet has learned that Ford and UAW are seeking to bridge the wage gap between the two sides. Ford has proposed a 23% wage increase, while UAW is demanding a 25% increase. Taking into account Ford's proposal to restore cost-of-living allowances, the actual wage increase negotiated between the two parties is expected to exceed UAW's target of 30%. The contract will be valid for four years and eight months.

If the above information is true, Ford Motor Company could soon reach a labor agreement and gain the support of the majority of union members through a vote, potentially ending the strike within this month. After more than a month of strikes, over 16,000 Ford workers have participated in the strike.

Wall Street Journal previously reported that on September 15, UAW launched strikes against General Motors, Ford, and Stellantis, marking the first time in UAW's history that it simultaneously targeted the three major automakers and one of the strongest strike waves in the US in recent years. The initial strikes involved three factories, accounting for 9% of North American automotive production, with approximately 13,000 workers participating. By early October, the number of striking workers had increased to over 20,000.

Earlier this week, the automotive industry strike further expanded its scope. On Monday, 6,800 workers at a Stellantis factory in Michigan joined the strike. The factory produces the best-selling Ram 1500 pickup truck for Stellantis.

With the addition of Stellantis workers, the total number of striking workers in the automotive industry has now exceeded 40,000, with 14,750 of them from Stellantis.

UAW stated on Monday that the reason for escalating the strike against Stellantis is because the company has failed to respond to the union's demands, as Ford and General Motors have. Last Friday, UAW revealed that they were close to reaching an agreement but also warned that stronger measures would be needed to achieve their goals at the final stage of negotiations.

On Tuesday, approximately 5,000 workers at a General Motors assembly plant in Texas joined the strike. The factory produces several of General Motors' most profitable models. So far, the total number of workers on strike in the automotive industry has reached approximately 45,000, accounting for about 31% of the total UAW union members. Due to the chain reaction caused by the major strike, 7,000 employees have already been laid off by car companies.