by Alan Thornhill
Although new vehicle sales have risen strongly over the past year, local car makers have seen their market shares slide
That has forced Ford, to declare 440 of its staff redundant.
The lay offs are to be equally divided between Ford plants at Broadmeadows and Geelong.
The strong $A has been making life difficult for local car makers – and other local manufacturers – by making imported products cheaper.
Australian motorists have responded enthusiastically.
The Bureau of Statistics reported that local car dealers chalked up 91,375 sales last month.
While this seasonally adjusted figure was 0.6 per cent, down on the results for May, it was still 18.4 per cent above the comparable figure for June last year.
The Bureau noted, though, that, while sales of passenger vehicles, like cars, fell in June, sales of sports utility and other vehicles had risen.
Australian manufacturers, though, are deeply worried about the strong $A.
The chief executive of the Australian Industry Group, Innes Willox, said Ford’s decision had, once again, reflected the “very tough” conditions these manufacturers now face.
He said both the government and opposition must mow develop manufacturing industry policies.
Alan Thornhill is a parliamentary press gallery journalist.
Private Briefing is updated daily with Australian personal finance news, analysis, and commentary.
Saturday December 14
The Dow Jones index rose 16 points to 15,755
Tony Abbott says Qantas request for a higher foreign investment level is “not unreasonable,” but declares there is no more public money for Toyota
An announcement on relief measures for car industry workers expected next week
|Aud To Usd||0.8959||N/A||N/A|
|Bhp Blt Fpo||35.850||+0.310||+0.87%|
|Cwlth Bank Fpo||74.200||+0.690||+0.94%|
|Qbe Insur. Fpo||10.600||+0.200||+1.92%|
|Macq Group Fpo||52.200||+0.880||+1.71%|
The News This Week
- Leaders discuss help for auto workers
- A new GST slug – on fringe dwellers
- North Korean leader’s uncle executed
- Manufacturing has a future in Australia:RBA governor
- Aged care workers lose pay rise, too
- Labor seeks to censure PM over Holden
- Greens to push again for marriage equality
- Expectations strengthen, but….
- Unemployment creeps up
- Australians have the “world’s “highest” median wealth:Keating
- PM still wants to cancel Senators’ Christmas
- PM talks to Toyota
- Holden’s decision will hit Australia’s job market very hard
- PM’s “panzer division”
- Holden to close. Toyota likely to follow
- Airlines (81)
- Banking (2584)
- Business (2704)
- Communications (58)
- crime (15)
- Disaster (119)
- Economics (2678)
- education (2)
- Environment (130)
- Financial advice (2423)
- Health (103)
- Housing (715)
- Inflation (529)
- Insurance (107)
- Investment (2203)
- Markets (2006)
- Media (133)
- medical (42)
- mining (271)
- pay (116)
- Politics (2749)
- population (173)
- Regulation (1035)
- retirement (88)
- rural (16)
- Rural australia (113)
- Security (23)
- Social security (258)
- Superannuation (235)
- Tax (405)
- The latest (141)
- Trade (755)
- Uncategorized (395)