The per-hour labor cost to the automakers is very different from "pay" or "wages" or even "wages and benefits" earned by their workers... the average GM, Ford and Chrysler worker receives compensation – wages, bonuses, overtime and paid time off – of about $40 an hour. Add in benefits such as health insurance and pensions and you get to about $55. Another $15 or so in benefits to retirees (known as "legacy costs") brings the number to roughly $70.
14 December 2008
Do auto workers earn $70 per hour?
No. But the embattled auto companies do have $70/hour labor costs.
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take that, add parts and materials, it prolly costs about $6000 to manufacture a vehicle that is costing the american tax payer (bail out money) 15-20 k- I missed the equasion there somehow, why does more than half the cost of a new car go into corporates pocket? And my money is helping to bail their sorry ass's out??
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