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| Version 0 | Version 1 |
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| Holden to stop making cars in Australia | Holden to stop making cars in Australia |
| (35 minutes later) | |
| Holden, a subsidiary of General Motors (GM), has said it will stop making cars in Australia by the end of 2017. | Holden, a subsidiary of General Motors (GM), has said it will stop making cars in Australia by the end of 2017. |
| The move will result in nearly 2,900 people losing their jobs. | The move will result in nearly 2,900 people losing their jobs. |
| The firm said a strong Australian currency, high manufacturing costs and a small domestic market were among the reasons behind its decision. | The firm said a strong Australian currency, high manufacturing costs and a small domestic market were among the reasons behind its decision. |
| Holden, which has made cars in Australia for near 65 years, will retain its sales unit and a parts distribution centre in Australia. | Holden, which has made cars in Australia for near 65 years, will retain its sales unit and a parts distribution centre in Australia. |
| "The decision to end manufacturing in Australia reflects the perfect storm of negative influences the automotive industry faces in the country," GM chief executive Dan Akerson said in a statement. | "The decision to end manufacturing in Australia reflects the perfect storm of negative influences the automotive industry faces in the country," GM chief executive Dan Akerson said in a statement. |
| "This includes the sustained strength of the Australian dollar, high cost of production, small domestic market and arguably the most competitive and fragmented auto market in the world." | "This includes the sustained strength of the Australian dollar, high cost of production, small domestic market and arguably the most competitive and fragmented auto market in the world." |
| Subsidies | |
| Carmakers in Australia have been struggling for some time, despite the government extending support to the industry via subsidies over the past few years. | |
| However there has been a debate going on over whether the government should continue to provide support to the sector. | |
| According to the Australian Broadcast Corporation (ABC), Prime Minister Tony Abbott declared last week that there would be no more taxpayer assistance. | |
| The government had also increased pressure on Holden in recent days to clarify its future plans for Australia. | |
| Dave Smith, national secretary of the vehicle division at Australian Manufacturing Workers Union, said the government's push had influenced Holden's move. | |
| "I believe the decision's been prompted by the behaviour of the government yesterday," he was quoted as saying by the ABC. | |
| "Unfortunately they've been let down by a government that wouldn't back them in." |