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AUSTRALIA: The Cost of Keeping General Motors ‘Holden’ Local

Posted: March 25th, 2012 | Author: | Filed under: Business News | Tags: , , , , , , | Comments Off on AUSTRALIA: The Cost of Keeping General Motors ‘Holden’ Local

General Motors HoldenBack in January we posted ‘The Cost of  Keeping Automakers Local’ Reporting that sales of the Australian made large cars – Holden Commodore and Ford Falcon – had dropped alarmingly in recent years. The Commodore’s 15-year run as Australia’s best-selling vehicle was ended abruptly in 2011 by the Japanese manufactured Mazda3, while Ford Falcon sales plummeted to fewer than 19,000 units in 2011.

And asking the question: So Exactly How Much Does it Cost to Keep Auto Makers in Australia? This past week Australian Government has answered the question by handing General Motors Holden more than $AU275 Million. The Australian government reckons it has avoided a “knockout blow” to the manufacturing sector by giving $215 million in assistance to General Motors Holden. The car maker will also receive $50 million from the South Australian Government and $10 million from the Victorian Government. Read the rest of this entry »

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