Canadian auto union agrees to GM, Chrysler deals

Industry analysts have said Ford settled early to avoid a strike at its Oakville, Ontario, factory, which makes the strong-selling Ford Edge and Lincoln MKX crossover vehicles that are important to Ford's cash flow.

Ken Lewenza, head of CAW's Chrysler bargaining team, called negotiations tough late Wednesday.

"We're not dealing with companies that have a lot of cash here. We're dealing with companies that are in market decline," Lewenza said.

GM recently announced the closure of a plant in Windsor, Ontario. About 1,400 workers will lose their jobs. GM also recently announced 900 job losses at a plant in Oshawa, Ontario.

Ontario Premier Dalton McGuinty said he is prepared to give automakers more taxpayers' money for new projects, despite the layoffs.