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GM says exposure to yuan devaluation 'limited and manageable'
August 12, 2015 / 2:30 AM / 2 years ago

GM says exposure to yuan devaluation 'limited and manageable'

(Reuters) - Automaker General Motors (GM.N) said on Tuesday that China’s 2-percent devaluation of the yuan would have a “limited and manageable” impact on its business.

    GM said in a statement that its practice of building vehicles for the Chinese market in China with parts made locally would “mitigate the majority of the risk associated with the devaluation of the yuan.”

    “We continue to expect strong results in China will be sustained through the remainder of the year,” GM said.

    Reporting by Kevin Krolicki in Washington; Editing by Peter Cooney

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