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GM Statement on Chinese Yuan Devaluation

General Motors issued the following statement Tuesday on the devaluation of the Chinese Yuan currency. General Motors’ primary approach to managing foreign exchange risk has been to employ a natural hedge by building vehicles for sale in each of our major markets. In China, we believe that this approach, along with a well-established local supply … Continued

General Motors issued the following statement Tuesday on the devaluation of the Chinese Yuan currency.

General Motors’ primary approach to managing foreign exchange risk has been to employ a natural hedge by building vehicles for sale in each of our major markets. In China, we believe that this approach, along with a well-established local supply chain, mitigates a majority of the risk associated with the devaluation of the Yuan. We believe that our exposure is limited and manageable, and do not expect that the devaluation will have a material impact on the company’s financial performance. We continue to expect strong results in China will be sustained through the remainder of the year.

https://www.automotiveworld.com/news-releases/gm-statement-chinese-yuan-devaluation/

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