The upside of a declining dollar, importing plants instead of cars.
Many foreign brand names are already here. As Ford, General Motors and Chrysler reduce their plants, foreign brands are moving into the United States.
They are not building new factories in Detroit, which may be bad news for Michigan. But it’s good news for Buffalo, W.Va., home of a Toyota engine and transmission factory.
Furthermore, the rising Canadian dollar is causing the Big Three Detroit-based automakers to reconsider their operations in Canada. That could be an incentive to switch factories back to this side of the border.
A recent study found that because of currency differences, autoworkers in Western Europe cost $10 an hour more than autoworkers in the United States.
And the Charleston Gazette sees West Virginia as a promising location.
(Hat tip: Jim Gray)
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