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Australian Car Production Plunges

Posted: January 10th, 2010 | Author: | Filed under: carsales | Tags: , , , | Comments Off on Australian Car Production Plunges

Car production in Australia has plunged to its lowest level since 1957, with manufacturers hit by the global economic slump and the high Australian dollarDespite strong local car sales, helped by the federal government’s business tax breaks, exports to markets such as the Middle East and the United States have all but collapsed,Fairfax newspapers say. The industry is set to be further buffeted by a January 1 tariff cut that has lowered the price of imported models relative to locally produced cars.

Figures from the Federal Chamber of Automotive Industries show Australia produced just 225,713 vehicles last year, almost 100,000 fewer than in 2008 and 55 per cent of the output in 2004. Read the full article »»»»