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As we head into November, there is already a lot to be thankful for as we talk about Toyota voluntarily boosting production wages. We also talk about the potential introduction of sub 20k EV as well as WalMarts plan to ditch degree requirements and focus on actual skills for corporate positions.
As substantial attention has been turned to the UAW strike and subsequent pay increases for workers, Toyota is voluntarily boosting pay for their non-union production workers as the automaker has announced a 9.2% wage increase for its nonunion production workers.
- Toyota raised the hourly wages for its U.S. manufacturing, distribution, and logistics employees to $34.80, effective Jan. 1.
- This increase is the third in a year, following a 25-cent raise to $31.86 in September.
- The wage boost is significant at 9.2%, especially considering the usual biannual wage adjustments by Toyota.
- Skilled trades employees will see their top wage rise to $43.20 an hour from $39.50
- Wage progression time is halved from eight to four years, and paid time off is increased for all employees, including temporary ones.
- Chris Reynolds, Executive VP for Corporate Resources at Toyota Motor North America, emphasizes the company's ethos, "At Toyota, we take great pride in showing respect for people. We value our employees and their contributions, and we show it by offering robust compensation packages that we continually review to ensure that we remain competitive within the automotive industry."
Vietnamese automaker, VinFast,is contemplating the introduction of the VF 3 minicar to the U.S. market at a potential price point under $20,000.Â
- At a mere 10.2 feet in length, this chunky two-door electric vehicle (EV) is designed to cater to the Vietnamese market but may appeal to budget-conscious American city dwellers.
- The VF 3 is described as both a car and a crossover, boasting 16-inch wheels and bold geometric design.
- The potential U.S. price point of the VF 3 might make it eligible for the $7,500 federal EV tax credit when leased.
- VinFast is transitioning to a hybrid retail model in the U.S., incorporating franchised dealerships.
- Duke Hale, an adviser to VinFast, shared insights from dealer meetings, "They liked the whole lineup but the VF 3, I would say, got an almost 100 percent response. They really liked the VF 3 and the reason is it's probably sub-$20,000."
Walmart's five-star checkout survey and how it has been a source of frustration for both customers and employees. The survey is part of Walmart's customer satisfaction evaluation, where customers are prompted to rate their checkout experience. However, the pressure to achieve five-star ratings has reportedly led to stress among employees.
- Some workers feel that their jobs are at risk if they don't secure perfect
Join Paul J Daly and Kyle Mountsier every morning for the Automotive State of the Union podcast as they connect the dots across car dealerships, retail trends, emerging tech like AI, and cultural shifts—bringing clarity, speed, and people-first insight to automotive leaders navigating a rapidly changing industry.
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