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Axios

Fadel Allassan

UAW votes in favor of new contract with Ford

United Auto Workers union members picket at the General Motors Tech Center on Oct. 25 in Warren, Mich. Photo: Bill Pugliano/Getty Images

The United Auto Workers Union said its members voted to approve a four-year contract with Ford, Reuters reports, after reaching a tentative deal in October.

Why it matters: With 56.3% of Ford’s hourly workers voting in favor of the deal, Ford will avoid a strike like the six-week work stoppage that cost General Motors nearly $3 billion earlier this fall, per Reuters.

The union will now focus on striking a deal with Fiat Chrysler, the last of the three unionized domestic automakers.

Go deeper: UAW president to take leave of absence during corruption probe

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