The net seems to think the difference in hourly wage per worker between the Big Three and the foreign companies in the U.S. is $4/hour in cash, and about another $4-$5/hour in benefits. Again, the hivemind thinks it takes about 30 hours of labor to build a car, and by that number the labor cost differences/vehicle should be about $250/car.

So while I wouldn't put labor costs as a complete red herring, it is certainly not the major difference between why Honda is showing a profit and GM isn't.