Death of Australian auto manufacturing confirmed..

[Grrrrrrr!]

http://www.bloomberg.com/news/2014-02-10/australian-car-manufacturing-faces-extinction-with-toyota-exit.html

Automakers have been making cars in Australia since Ford Motor Co. (F) began assembling Model Ts in a converted wool store near Melbourne. That’s poised to end in three years, when Toyota Motor Corp. (7203) shuts its production lines in Altona about 60 kilometers (37 miles) away.

About 50,000 jobs in the country’s auto and parts industry are in jeopardy after Toyota yesterday followed Ford and General Motors Co. in announcing plans to quit manufacturing in the country.

[GDII]

Makes sense with the cost of labor over there. Much cheaper to do it elsewhere. Very unfortunate for all the employees though.

[Al]

Unions are going to realise it was better to get 80% of something than 100% of nothing.

[phoenix]

http://www.theaustralian.com.au/nationa ... 6781579259

They tried to increase viability - but it's cheaper to make Camrys in Japan, and they would no doubt be better assembled.