DANA Inc 10-Q

Item 1 A. Risk Factors   The risk factors disclosed in Item 1A of our 2022 Form 10-K have been updated to included the following revised risk factor:   Labor stoppages or work slowdowns at Dana, key suppliers or our customers could result in a disruption in our operations and have a material adverse effect on our business.   We and our customers rely on our respective suppliers to provide parts needed to maintain production levels. We all rely on workforces represented by labor unions. Workforce disputes that result in work stoppages or slowdowns could disrupt operations of all of these businesses, which in turn could have a material adverse effect on the supply of, or demand for, the products we supply our customers.   Ford Motor Company (Ford), Stellantis N.V. (Stellantis) and General Motors Company’s (GM) contracts with employees represented by the International Union, United Automobile, Aerospace and Agricultural Implement Workers of America (UAW) expired on September 14, 2023. Beginning on September 15, 2023, the UAW commenced labor strikes at certain U.S. operations of Ford, Stellantis and GM. We have experienced a decrease in order volumes from Ford and Stellantis resulting from the impact of the UAW’s labor strike activities which has caused us to curtail operations at certain of our U.S. manufacturing and assembly operations. An increase in the scope of the UAW’s labor strike activities could result in further curtailment of our U.S. operations. Prolonged UAW labor strike activities against Ford and Stellantis could have a material adverse impact on our business, financial condition and results of operations.