U.S. automakers: 3 cheers for the weaker dollar

Newswire

By Michael Ellis DETROIT, May 27 (Reuters) - Detroit automakers, facing weaker sales and falling market share, have cheered the 13 percent fall in the U.S. dollar against the euro this year, which has put pressure on prices of imports from rivals. The dollar's more modest 2 percent drop against the Japanese yen has helped counter the cost advantage of up to $3,500 per imported vehicle that Japanese automakers have against their U.S. competitors, said General Motors Corp. chief economist ...

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