Detroit's "Big 3" reopen for business this week — this is bigger than carmakers
Chicago had Jordan, Pippen, and Rodman... Detroit's Big 3 are carmakers: GM, Ford, and Chrysler. And they're reopening their factories, which have been closed since mid-March. Based on recent upticks in demand in China, automakers are hopeful that sales will follow when production restarts in the US:
- 133K American workers are expected to return to Big 3 plants across the country — Ford alone is bringing back 47K workers this week.
- If the regular speed limit is 60, automakers are cruising 30: They're only bringing back around half the full capacity of workers, and are implementing precautions like: temperature checks, face shields, plexiglass barriers, and staggered shifts.
When times get tough, the profit puppies get more attention... While automakers are taking health/safety precautions, another COVID-19 outbreak could spell another major closure. That's why the Big Three will focus on producing its profit puppies — trucks & SUVs — while they can.
This is about much more than Detroit Big Three... It's about the fate of all their auto industry buddies, like auto parts suppliers and car dealers. A whopping 3M Americans work in the auto industry, and rely on automakers to fuel their businesses. Car part-making companies have already begun cranking production this week for the highly anticipated factory reopenings.