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Australia: The Cost of Keeping US Auto Makers Local!?

Posted: January 11th, 2012 | Author: | Filed under: Business News | Tags: , , , , , , , , , , , , , | Comments Off on Australia: The Cost of Keeping US Auto Makers Local!?

Australia: The Cost of Keeping US Auto Makers Local!?Sales of the Australian made large cars – Holden Commodore and Ford Falcon – have 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. So Exactly How Much Does it Cost to Keep Auto Makers in Australia? Between $100 and $200 Million!? Holden says it is getting closer to announcing co-investment from the Federal Government and parent company General Motors as it looks to secure the local manufacturing of the Cruze and Commodore beyond 2018. Ford has announced a fresh $103 million investment for it’s Falcon range of large car and Territory SUV, though the future of the Australian-built vehicles is still guaranteed only until the end of 2016. Australia’s Minister for Manufacturing, Kim Carr, and South Australian Premier Jay Weatherill have been in talks with GM at this week’s 2012 Detroit motor show as part of a political delegation seeking future support for the Australian car industry.State and federal governments could be forced to pay up to $200 million to keep Holden factories in Australia, a workforce analyst said. Both the federal and South Australian governments have indicated they will pay Holden’s parent company General Motors a “substantial sum” to prevent manufacturing from being moved offshore. Holden wasn’t able to announce its own confirmed co-investment strategy but the car maker’s managing director, Mike Devereux, said parties are working towards an agreement. Read the full article »»»»


SAAB Files For Bankruptcy

Posted: December 19th, 2011 | Author: | Filed under: Business News | Tags: , , , , , | Comments Off on SAAB Files For Bankruptcy

SAAB Files For BankruptcyThe stalwart Swedish car maker Saab has filed for bankruptcy, bringing to an end two years of struggle to rescue the iconic brand.

Final desperate efforts to organise help from China were obstructed by General Motors over licences.

A statement on the court’s website said three Saab companies had filed for bankruptcy: SAAB Automobile Aktiebolag, Saab Automobile Tools AB and Saab Automobile Powertrain. Saab’s charismatic chief executive Victor Muller had been due to appear before the court on Monday as judges had been scheduled to decide whether to lift or prolong the three-month bankruptcy protection Saab had been placed under while it was attempting to negotiate a deal to rescue the company.

The car maker was forced to halt production in April as suppliers stopped deliveries over mountains of unpaid bills. Saab’s some 3,700 employees, whose salaries have been delayed for five months running, have yet to receive their November pay cheques :: Read the full article »»»»