Unions will destroy the Detroit Three automakers

Once upon a time, what was good for General Motors was good for the nation. In 1955, GM was the largest employer in the United States. GM employed almost 600,000 people. Today in the U.S., the company employs just 53,000 people. In 1955, GM had a 70% market share. In 2023, that share had fallen to 16.9%. In the late 1950s, GM, Ford, and Chrysler (Chrysler is now owned by Stellantis) had a 96% market share.

Unfortunately, for shareholders of the Detroit Three and for the country, the future is very dark for the domestic vehicle companies.