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]

Share This Photo X