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Report: GM Poised to End Production In Australia
General Motors Co. has decided to phase out its Holden assembly operations in Australia in 2016, according to the Australian Broadcasting Corp.
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General Motors Co. has decided to phase out its Holden assembly operations in Australia in 2016, according to the Australian Broadcasting Corp. The television network cites unidentified senior government officials.
GM delayed making the announcement from this week to early next year, according to ABC's sources. Holden denies the report.
Ford Motor Co. said in May that it would end production in Australia in 2016. Analysts say a GM pullout likely would prompt Toyota Motor Corp. to do the same, thus ending Australia's auto industry.
The country's carmaking sector has been fading for decades as lower-cost imports gradually captured 85% of the market. Australia's annual car output dropped from a peak of 475,000 units in 1970 to fewer than 210,000 last year. Exports have been difficult because of the strong Australian dollar and relatively high wage rates in the country.
ABC says Australia's auto industry has received more than A$12 billion (US$10.8 billion) in government aid over the past 10 years.
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