General Motors Company (GM) and Stellantis (STLA) are nearing tentative labor deals with the United Auto Workers union, CNN reported Thursday, citing three sources familiar with the negotiations.

The deal is expected to follow the pattern set by Ford Motor (F), which agreed to a 11% immediate and roughly 30% total raise until early 2028, including higher 401(k) contributions and cost-of-living adjustments, according to the report.

The union has begun sending Ford workers back to their jobs after a tentative labor agreement was announced Wednesday evening, according to the sources.

The Ford deal is yet to be approved with a ratification vote by UAW members on Sunday, which is increasing pressure on GM and Stellantis to finalize their agreements by Friday to enter the ratification process, the report said.

General Motors, Stellantis, and Ford didn't immediately respond to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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