Tens of Thousands of Dockworkers are Set to Strike as Soon as Oct. 1

Although the auto industry has been relatively stable since the UAW strike ended Q4 last year, it appears another “gut punch” is on the horizon with the East Coast dockworkers set to strike as early as October 1.  Hundreds of suppliers are currently financially challenged dealing with EV volatility, increased labor costs and other input costs, and lower than anticipated OEM releases.   A protracted strike, potentially causing OEM assembly plant shutdowns due to parts shortages, may be the final blow for some of these challenged suppliers. Riveron's automotive team is actively working with several medium and large suppliers, and we anticipate a significant increase in supplier distress if this strike lasts more than a couple of weeks.