Holden chief executive Mark Reuss says the relatively high value of the Chinese renminbi currency unit will make it much harder for low-priced Chinese cars to flood into markets like Australia
Reuss made the remark this week in a speech to the Australian automotive Supplier of the Year awards dinner.
“There’s plenty of talk about the possibility of a Chinese car invasion,” he said. “But the renminbi has appreciated against the US dollar and more against the Australian dollar.
“That’s going to make that proposition much harder at the bottom end of the price ladder.”