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GM exec says weak U.S. dollar helping suppliers
According to Bo Anderson, General Motor's purchasing chief, the weakening dollar is actually going to help U.S. suppliers become more competitive in the economically flat world we live in. The combination of low-cost foreign rivals and the high prices commanded for raw materials have caused several U.S.-based automotive suppliers to be left out in the competitive cold.Although Anderson concedes that prices will remain "too high" from GM's perspective, eventually the automaker won't have to outsource parts manufacturing in order to stay competitive. It could even get to the point that exportation to Europe becomes more financial feasible for both the suppliers at home and companies abroad.
[Source: Reuters]
Reader Comments (Page 1 of 1)
Gardiner Westbound 9:18AM (6/08/2007)
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This is like slamming your fingers in a desk drawer because it feels so good when you stop.
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airport krishna 10:46AM (6/09/2007)
This is the old, arrogant, "poor me" priviledged GM talking - everyone else always has an advantage - excuse making for GM myopia is silly.
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The Other Bob 11:10AM (6/08/2007)
This is actually a good thing in my mind. (Many economists will disagree).
More exports and less imports means more jobs. More foreign nameplates will build more plants here and more of the American plants will be sending cars elsewhere. (at least where there aren't stiff tariffs)
There is a reason the Opel GT (Saturn Sky) is being exported from Delaware along with some Caddy's.
The downside is higher inflation, but inflation has been ridiculously low for years, so I am betting we can handle it.
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Jay Evans 12:25PM (6/08/2007)
"There is a reason the Opel GT (Saturn Sky) is being exported from Delaware"
I know, I know, Is it because the Germans will pay $43,000+ for a $30,000 car?