The global economic crisis forces car-importer Ateco Automotive Pty. Ltd. to postpone plans to launch the Great Wall Motor Co. Ltd. brand in Australia. Ateco Managing Director Ric Hull tells Ward’s the Chinese brand’s introduction is on hold solely as a result of the sudden and massive devaluation of the Australian dollar. “Since October, it has lost about 30% of its value against the U.S. dollar, the Chinese yuan and the Thai baht, and about 40% against the Japanese yen,” he writes in an ...
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